Salary upto Rs 500,000

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2011 As per speech of Finance Minister , salaried parson whose income does not exceed Rs 500000 have no need to file ITR.

Now, our employee has told me that as per above speech you have no need to deduct TDS from our salary for F.Y 2011-12.

But i think it is not mandatory to file ITR but Deductor muct deduct TDS If salary is taxable, wheather I M right PLz sujjest me. Thank

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
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22 June 2011 Yes TDS has to be deducted if salary is taxable as per normal laws and TDS return has to be filed by the employer.

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