Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Which type of tds deductor

saumya ranjan Behuria (1 Points)

19 October 2023

of any school/colleges deduct tds for salary then type of deductor what?

Reply
Follow
Share

1 Replies

Musrath Shaik (175 Points)
Replied 19 October 2023

In India, schools and colleges that deduct TDS (Tax Deducted at Source) from the salaries of their employees are typically categorized as "Educational Institutions" and fall under the purview of Section 192 of the Income Tax Act, 1961. When they deduct TDS from the salary payments, they are considered to be "Employers" for the purpose of TDS.

These educational institutions are responsible for deducting TDS and depositing it with the government on behalf of their employees. They need to obtain a Tax Deduction and Collection Account Number (TAN) and adhere to TDS rules and regulations as prescribed by the Income Tax Department.

So, if a school or college deducts TDS from the salaries of their employees, they are categorized as "Employers" and should have a TAN to fulfill their TDS obligations.

For further more detailed information on this topic visit: Tax Dеductеd at Sourcе (TDS)

To read more such trending content, visit Swipe Blogs.

1 Like