banner_ad

HELP ON Urgent basis req.deduction of TDS

This query is : Resolved 
Profile Image

Profile Image

(Querist)
02 February 2011 We are a multi unit company. In one of our unit we have done one time settlement with four employees at one fixed amount of Rs.2.6 Lacs. This settlement is towards Wages, Bonus, Gratuity and EL. Wages pertain to last three years.



There has been a dispute with these 4 workers in court and now company has entered into one time settlement with all of them paying Rs. 2.6 Lacs each to them.



Please let us know,



What amount of TDS is deductible,

Any deduction can be given not to deduct any TDS.
Profile Image

Guest

Profile Image

Guest (Expert)
02 February 2011 Deduction as per total salary all such employees will be deducted Deduction 80C etc. can be allowed
Profile Image

CA Mahendra modi

Profile Image

CA Mahendra modi (Expert)
11 June 2011 As Wages, Bonus and EL all are fully taxable, so TDS will be deductaible on above as per applicable slab to respective employee.

Portion of Gratuity is exempt as calculated by specified procedure in Income Tax Act, so that exempted amount will not be taxable and consequently TDS will not be deducted.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details