Income tax on salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 April 2013
One of our employee left job on 28 Feb, 2013 and he comes under 30 % Tax bracket and we already paid Feb month salary in the Financial Year 2012-13.
Now, his full & final payment for EL, Bonus & LTA comes to Rs. 6,04,690/-.
We deduct 30.9 % Tax on whole amount but that employee telling us TDS should be deducted at minimum rate as he has no income for the F.Y. 2013-14.
Kindly advice us what should I do for the same.
Now, his full & final payment for EL, Bonus & LTA comes to Rs. 6,04,690/-.
We deduct 30.9 % Tax on whole amount but that employee telling us TDS should be deducted at minimum rate as he has no income for the F.Y. 2013-14.
Kindly advice us what should I do for the same.
CMA Ramesh Krishnan
(Expert)
20 July 2013
query is not clear, you are telling already in 30% bracket then how employee claiming he has no income?
CMA Ramesh Krishnan
(Expert)
26 July 2013
waiting for reply
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