Tds on salaries

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Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2015 sir could u tell me what are the conditions for deduction of tds on salary

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 May 2015 Every person who is responsible for paying any income chargeable under the head “Salaries” shall deduct income-tax monthly on the estimated income and savings of the assessee under the head “Salaries” for the financial year. Year end TDS be based on actuals.

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2015 if a employee has annual taxable income 240000 the employer has required to deduct tax

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 May 2015 It is below the basic exemption limit, no need to deduct any tax.

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2015 in practical situation if the employee has income from salary and income from other source and together (240000+300000=540000) now the employer is required to deduct tax...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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30 May 2015 The employer is required to deduct tax considering only salary income.