regarding salary tds
This query is : Resolved
31 January 2011
our co. regd. on 19th oct 2010. so i have to calculated tds on estimated salary of april to mar only for finding whether person comes under taxable slab or from 19th oct to mar
should i take actual salary upto now or gross salary and give applicable deductions
total tds to deducted will be from 19th oct to mar 2011 but for finding taxable salary count from april to mar
pls reply urgent
should i take actual salary upto now or gross salary and give applicable deductions
total tds to deducted will be from 19th oct to mar 2011 but for finding taxable salary count from april to mar
pls reply urgent
31 January 2011
TDS on salary should be deducted estimating employees' annual income.
if ur employees' annual income including salary received from ur co. & earlier employer comes under taxable slab, then TDS should be made.
if ur employees' annual income including salary received from ur co. & earlier employer comes under taxable slab, then TDS should be made.
CA Manikandan.A.V
(Expert)
31 January 2011
For Salary TDS deductions the company need to consider the Taxable income of the employee for the total financial year. The company should obtain a statement from the employee in Form 12b about the income from previous employment and deduct TDS on his taxable income. All deductions including PF deducted, Prof Tax paid while previous employment tenure can also be considered.
Please see Form 12 B in
https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62Form12B.pdf
Please see Form 12 B in
https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62Form12B.pdf
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
