banner_ad

salary tds

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 March 2009 dear sir

our one staff is paid salary 23000.00 per month should i deduct the tds if yes please say me the rate and the accounting entry in the books i am paying him 23000 from april to feb and jv will be passed for march
salary 23000*12=276000.00

aslo say the interest rate for late payment for tds
Profile Image

CA Tilak Raj Sharma

Profile Image

CA Tilak Raj Sharma (Expert)
21 March 2009 TDS on salary is deducted on average basis. TDS is calculated as tax computation made for an individual as per slab rate for the concerned assessment year, and then that tax amount is devided into 12 months and TDS is deducted on monthly basis.

To get the minimum tax on salary, salary is being devided into allowance out of which some are totally exempted from tax and some are partially. You need to make salary structure for this.

Interest on late payment of TDS is 1% per month.

If you need my professional services, you can contact me on ca.tilakrajsharma@yahoo.com or +919805028580.
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
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

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

SSGS and Associates

Chennai

CA Inter

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details