Tds on salary

yogen (Accountant) (105 Points)

01 April 2013

sir,

please let me know the below confusion.

Is salary for the month of march 2013 is added on 2012-13 TDS calculation,if actual salary payment of march 2013 is paid on april 13 month ?

i shall be very grateful to you.

thankyou in advance.

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5 Replies

shikhar (LEARNER ) (1394 Points)
Replied 01 April 2013

Helloo...friend

TDS is deducted on the basis of amount credited or paid , which ever is earlier.

If salary is credited on 31st march then it should be included in the same year .

thanks

CA D.C. Bansal (Accounts Head) (283 Points)
Replied 01 April 2013

Salary for the month of March-13 received in April-13 will be taxable in the year 2012-13.

(Guest)

yes it will be added and taxable in 2012-13

Dilip Kumar Gupta (GM - Accounts & Finance) (23 Points)
Replied 01 April 2013

TDS is always deducted on the basis of amount credited or paid , which ever is earlier.

If salary is credited on 31st march 2013 then it should be treated as liability of F.Y. 2012-13. and will be paid to Govt. by April'2013.

Dilip Gupta

manoj (student) (5205 Points)
Replied 01 April 2013

due r recieved which ever is earlier is taxable even if u got advance tax for next year it is also taxable in current year

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