BHASKAR MUKHERJEE (Manager-IA) (39 Points)
23 October 2011Will any body help me to clarify following with circular/rules reference:
1. How much TDS company should deduct monthly from salary of the employee?
2.What is the Advance Tax rules regarding TDS from salary income?
3. Is quarterly return required to be filed with tax authority on TDS from salary?
Devendra
(Chartered Accountant)
(4775 Points)
Replied 23 October 2011
Ankit Tantia
(B.com ( Hons.) FCA DISA (ICAI))
(222 Points)
Replied 24 October 2011
Agree With Devendra
| Originally posted by : Devendra | ||
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Dear Bhaskar, 1) TDS should be deducted on the basis of the basic income exemption limit. (Male :180000, Female190000, Senior Citizen250000) 2) Advance Tax should be paid in installments if the Tax Liability goes above10000. The Installment for Corporate and Non-Corporate Assesses is different. 3) The E - TDS Return (24Q) should be filed quarterly. Regards, Devendra K |
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