SALARY AND TDS
This query is : Resolved
05 February 2010
Whether an individual is required to obtain TAN and deduct TDS on payment of salary to his/her employees? Salary paid to each employee is Rs.5000/- p.m.There are only 2 employees.Business income of the employer is about 5 to 6 lacs per annum.
05 February 2010
In your case no tax deduction is required as you are paying salary @5000/= p.m. , which is below the exemption limit.
05 February 2010
No. not required to get TAN, employess are not coming taxable limit
05 February 2010
TAN is necessary when deductin of TDS is necessary. In your case employees salary is 60000/- p.a. so no TDS liability. So no TAN requirement
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