niloy sanyal (account manager) (777 Points)
15 July 2016
1) We have paid Mr. X (Age-35 Year) salary Rs. 30000.00 P.M(Gross) 2) Deducted Professional Tax 150 P.M 3) Deducted PF 1800 P.M. 4) he will provided LIP 150000.00
Can We deduted TDS , if we not deduted TDS then it is compulsary shown in 24 Q return NIL
CA Saurabh Singh
(Practising Chartered )
(974 Points)
Replied 15 July 2016
No, there is no requirement to deduct TDS as the employee has send you his investment declaration.
yes in 24Q if its is shown NIl no problem
Garima Singhal
(executive)
(26 Points)
Replied 15 July 2016
your taxable income is below the exemption limit therefore no tax to be deducted. and there is no compulsioin to show in 24Q.
CAclubindia
