23 January 2008
An employee drawing sal(basic + DA + other allowances) exceeding Rs.110000/- quits the organisation in April 07. Is the employer liable to deduct tax at sourcce while making a final settlement to the employee?
23 January 2008
An employee drawing sal(basic + DA + other allowances) exceeding Rs.110000/- quits the organisation in April 07. Is the employer liable to deduct tax at sourcce while making a final settlement to the employee?
23 January 2008
Yes he is liable, in view of his resposibility u/s 192 (1)to deduct income tax, on the amount payable, at the average rate on the estimated income of the assessee(employee)for that financial year, if the estimated income is more than the non-taxable limit.
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