regarding salary tds

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priti (Querist)

31 January 2011 thank you but i still have doubt should i take salary of previous employer on gross salary of employee or on net salary recd. by them & as biffurcation of salary provided by them(considering absentees also) - they do not have form 12b from previous employer
1) also many employees were not working for 2-3 months so i have to take estimate salary for that month also or leave it
2) our co. paid salary in cash in sept & oct but regd. from 19/10/2010 so would sept to 18 oct tds to be deducted or not
pls reply urgent

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)

31 January 2011 You need to be concerned for few items for past employments:

1> Gross taxable salary received .
2> Rebate / Deductions given under chapter VI
3> TDS deducted.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)

31 January 2011 So from the above you will get, Net taxable salary & TDS thereon. Also, you got the amount already availed as deductions. Suppose, past employer has given the benefit of 70000/- under section 80C, then you will consider another 30000/- only for your estimate.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)

31 January 2011 Last : You will do the estimation of tax calculation on the basis of full salary (Full attendance) & deduct an equal amount of TDS each month. However, in the last month or in March, you need to recalculate your workings on the basis of actual attendance / actual receipt / actual TDS till date & then deduct the balance TDS in that month.

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