Jitendra Jhanwar (Officer) (129 Points)
05 May 2010Dear Friends,
Please solve my below quarry: -
In a company the salary of one of the employee is Rs. 11000 p.m. and the employee is not give his PAN No. to the employer then of which rate TDS is deducted and is the provision of not giving PAN No. is applicable in Section 192B?
Tks in advance
Shyam Lal Naik
(Service)
(6156 Points)
Replied 05 May 2010
Same issue answered in Expert Section. Please visit the following link : /experts/new-tds-rate-applicable-from-01-04-2010-366240.asp
Rachit
(Analyst)
(913 Points)
Replied 05 May 2010
TDS on salary is on the basis of the income slabs.
TDS on salary in case PAN is not available would be at the rate in force or 20% whichever is higher.
Hence in my view TDS would be @ 20% of the net taxable salary upto salary of Rs.5.00 lacs
and 30% thereafter
Mukesh Goel
(CA,CFA)
(103 Points)
Replied 22 May 2010
hi
Income tax is calculated on your net income. As u mentioned that his salary is 11,000 P.M so for ayear it will be RS 1,32,000 P.M which will not attract income tax so no T.D.S ignoring he has no other source of income.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
