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TDS on salary

24 September 2017

If employee join in mid of the year(say oct) ,how tds should be deducted on his salary.Whether on salary paid by co.?
E.G suppose monthy salary is 50k
So tds should be on 300000 (which compnay will be paying ) or 600000.

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5 Replies

(Guest)

yes consider per year

then calculate income tax as per applicable

per year then divided by applicable months

then paid as per month

u can save tax on conveyance , medicle allowance and

education as per benifight paid a compant

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Bhavesh Khanvilkar (other) (676 Points)
Replied 24 September 2017

Means if employee joined in oct. On 50k pm salary the tds cal should be On 600000 salary instead on 300000

Poltu Ghosh (Job) (1865 Points)
Replied 24 September 2017

You need to consider the salary income paid by current employer only I.e Rs. 3 lakh. You need to take a declaration from the employee in form 12B to get the salary paid by previous employer and TDS by the previous employer. Then you need to deduct tax on salary income paid by current as well as previous employer. Compute the tax thereon and give due credit of TDS by previous employer. The balance tax needs to be deducted by current employer in the remaining period

2 Like

(Guest)

your firm tax liability upto 300000/-

in year he work with u only for 6 months

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 25 September 2017

Yes I agreed with Mr Samir.,
(your firm tax liability upto 300000/-

in year he work with u only for 6 months )

In case you ll be deduct Rs. 6lakhs then you ll be consider the salary as 1lakh / month..