jhonny (NA) (156 Points)
20 February 2014Dear friends,
The employer who is a soleproprietor pays salary to employee Rs 3,00,000 per annum. Whether he s liable to deduct Tax at source from employee? The employer turnover is less than 1 Crore and not liable for Tax Audit. Whether TDS in applicable in such case??
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 20 February 2014
TDS and Tax audit both are diffrent things and they can not be combined togather. Yes the employer is required to get deducted TDS on payments of Salary.
karthi
(Accountant)
(54 Points)
Replied 20 February 2014
Dear friend,
You are not mentioned way of salary income. Some of Salary income,commission income , partnership salary,Professional income etc., this type of income TDS Aplicaple. TDS deducted.
soleproprietor income already pay the tax at concern. so, claimable TDS.
Satyendra
(Employee)
(324 Points)
Replied 21 February 2014
| Originally posted by : jhonny | ||
 |
Dear friends, The employer who is a soleproprietor pays salary to employee Rs 3,00,000 per annum. Whether he s liable to deduct Tax at source from employee? The employer turnover is less than 1 Crore and not liable for Tax Audit. Whether TDS in applicable in such case?? |
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Dear Friend,
Provision of TDS withholding is not applicable in given case since, Tax audit is not applicable.
jitendra kumar sharma
(student)
(24 Points)
Replied 21 February 2014
Stranger
(.)
(5531 Points)
Replied 21 February 2014
In case of TDS on salary u/s-192, the tax audit u/s-44AB is not considered. Only there are three criteria : (1) Employer-Employee Relationship, (2) Payment in the nature of Salary & (3) Estimated income u/h salary exceeds the maximum amount not chargeable to tax as specified in the Finance Act for the relevant Assessment Year, like for A.Y. 2014-15 exemption limits are 2 lakhs, 2.5 lakhs or 5 as the case may be. But as far as point (3) is concerned, if the employee also provided details of his / her other inocomes & deduction then TDS will be deducted by the employer on the basis of tax on estimated total income after considering various deductions under chapter VIA except 80G, if it exceeds maximum exemption limit, even if income u/h salary is less than maximum exemption limit.
So decide the applicability of TDS in your case accordingly.
Ramanuj
(Accountant.)
(834 Points)
Replied 21 February 2014
Dear Friend
Good morning
TDS is applicable if any employer paid as salary to his employee. his basic examption limit cross & deduction 80c 1 lac & 80 D 15000/- and employer has paid HRA and rent paid employee have same calculation 1. Basic salary of 50% p.a. 2. HRA Received p.a. 3. rent paid over 10% of salay paid. which is least if examplted from HRA RECIVED.
After above calculation have crossed basic examption then TDS must Deducted.
Thanks
Ramanuj
amit
(self employed)
(22 Points)
Replied 21 February 2014
dear sir
if a employer payes salary to his employee rs 195000.00 during a year and incentive rs 56000.00, is employer is liable to deduct tds u/h of salary. it is proprietorship concern & turnover below rs 1 crore
amit
(self employed)
(22 Points)
Replied 22 February 2014
Dear Sir,
I want to know if a employer is liable to deduct tds u/s 192 tds on salary. whether he has to deduct tds on other payments to which are covered u/s 194
Thanks
ASHISH SINGHAL
(ARTICAL ASSISTENT)
(21 Points)
Replied 05 June 2015
Can a properitorship firm Deduct TDS on Salary paid to employer which is exceed the basic limit of income and the firm is not liable to audit u/s 44AB
Pls Reply
CAclubindia
