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Tds from salary

koundinya (stundent) (56 Points)

05 November 2014

any on know the limit amount to furnishing form no.12BA & form no.16

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CA AnKiT BoHrA (AB) (Manager) (25955 Points)
Replied 05 November 2014

ther is no amt limit fixed for form 16A.... If you are having taxable salary u can get that or give that

Vikas Gupta (Tax Executive) (530 Points)
Replied 05 November 2014

Taxable limit for indivudual for F. Y. 2014-15 (A. Y. 2015-16) is Rs. 250000/-. In case of such an individual person is a senior citizen, taxable limit is Rs. 300000/-. If employer deducts any TDS against salary paid to his employee and the same has been deposited to income tax department by the employer, he is bound to issue TDS certificate (Form 16) to his employee. Form 12BA is a form which is filled by employee regarding details of salary earned by him from any previous employer. This filled form is than submitted to the current employer so that while calculating TDS of employee, he may consider income of previous employer also.