Dear All,
Please Clarify the following:
In Form NO 24Q4 the details of those employees are provided who's Salary Income exceeds Rs. 160000/- without allowing any deduction or details of those employees submitted who's income after allowing deductions is exceeds Rs. 160000/-.
Please urgent reply.
Thanks
Parmod
|
|
|
 |
|
Particulars of only those employees are to be reported from the 1st quarter onwards in Form 24Q in whose case the estimated income for the whole year is above the threshold limit. |
|
In case the estimated income for the whole year of an employee after allowing deduction for various savings like PPF, GPF, NSC etc. comes below the taxable limit, his particulars need not be included in Form 24Q.
In case due to some reason estimated annual income of an employee exceeds the exemption limit during the course of the year, tax should be deducted in that quarter and his particulars reported in Form 24Q from that quarter onwards
as per my view,
In annexure- II all the employees details who are in employment during the financial year is require to give,.
Dear bhavik it is not required to submit details of all the employees, if u have any doubt plz refer to www.incometaxindia.gov.in website FAQs on form 24Q
Please clarify me that in which head the insurance commission will be taxed?
CAclubindia
