I AM AN ACCOUNTANT IN INFINITY STATIONERIES PVT. LTD.I HAVE SOME CONFUSION ABOUT THE CASE DISCUSSED BELOW. PLEASE HELP ME. THE MALE DIRECTOR OF THE COMPANY IS GETTING REMUNERATION 6 LAC PER ANNUM. DEDUCTION U/S 80C IS 1 LAC. WHAT WILL BE THE AMOUNT OF TDS. IS THIS TDS AMOUNT ALSO WILL BE CHANGE ACCORDINGLY IN CHANGES OF THE INCOME SLABE RATES.
TDS on Salaries
Page no : 2
Ankit Bansal
( Sr. TAX Accountant)
(42 Points)
Replied 16 July 2011
Firstly Cal the Tax of F Y - 2010-11
160000= NIL
340000*10%= 34000
10000*20% =20000
Total Tax = 54000
Per Month = 54000/12= 4500
TDS Amount of Per Month= 4500
Shah Tarun
(Student)
(800 Points)
Replied 19 July 2011
It is not compulsory to give the form 16 to the employees if there is no TDS deducted.
As Form 16 is a TDS certificate and not a salary certificate,
C.A. Sandeep Wawhal
(CA, PGDFM, BCom)
(1831 Points)
Replied 21 July 2011
Agree with Ankit Bansal.
TDS Amount will be change accordingly as change in his income only.
Regards,
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