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jyoti kumari

jyoti kumari (Querist)
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30 September 2014 dear experts,

what is the eligiblity of a company for deduct tds on salary.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 October 2014 No eligibility. All companies are required to deduct TDS on Salary u/s 192. If the salary is becomes taxable as per slab after all deductions and exemptions then TDS is deducted proportionately from salary over the Financial year.

jyoti kumari

jyoti kumari (Querist)
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01 October 2014 AGER SALARY M KOI BREAKUPS NA HO TO

2.AUR AGER BREAKUPS HO TO TDS GROSS M SE DEDUCT HOTA H YA BASIC MSE

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 October 2014 TDS ke liye gross salary consider ki jati hai and Annual Income from Salary project ki jati hai. Projected taxable income k upar TDS calculate ki jati hai.

jyoti kumari

jyoti kumari (Querist)
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01 October 2014 CAN U GIVE ME A EXAMPLE OF THIS PLZ HELP ME SIR

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 October 2014 FY 2014-15

Say Gross Salary per month is Rs 50000/- per month. Deduction u/s 80C Rs 150000, HRA Deduction Rs 30000/-, Dedction u/s 80D Rs 20000/-

Exemption limit for individual is Rs 250000. So here taxable salary is

(50000*12)-(150000+30000+20000)
=400000
Now calculate Tax on Rs 400000/-. It will be 15450 Now this estimated Tax liability will be deducted proportionately every month ie., (15450/12)= Rs 1287.50. Tax after final calculation will be deducted in March.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 October 2014 Also see booklet issued by Income Tax department from below link--

https://www.incometaxindia.gov.in/booklets%20%20pamphlets/tds-on-salaries.pdf

jyoti kumari

jyoti kumari (Querist)
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20 November 2014 IN CASE ,
KISI EMPLOYEE KI SALARY ENHANCE HO JAYE TO

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