T.d.s

This query is : Resolved

hardik shah (Querist)
Follow

22 October 2013 what is salary limit above which tax is deducted from salary..?

and

what is remedy available to prevents employees from t.d.s..?
plz give me brief detail.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

22 October 2013 If salary income after giving effect to deductions under chapter VI and income from house property (if details provided to the the employer) and any other source of income declared to the employer, exceeds the basic exemption limit (Rs 2,00,000 for male and female below age of 60 years, Rs 2,50,000 for assessee more than 60 years but less than 80, Rs 5,00,000 in case of assessee above 80 years), TDs is the be deducted.

There is no remedy except for employee paying advance tax on his/her own.

Ganeshbabu K

Ganeshbabu K (Expert)
Follow

23 October 2013 tds on salary is computed based on savings of individual and salary earned by individual
.
.
TDS 192 IS CALUCLATED as per tax rates applicable to individual
.
.
total tax liability of salary individual is to be recovered from salary of individual by the employer and will deduct the same from salary of individual and credit to the credit of government account

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now