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tax deduction

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(Querist)
07 October 2009 i want to know to on what rate the tax should be deducted from employee ?
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rajesh

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rajesh (Querist)
07 October 2009 i want to know to on what rate the tax should be deducted from employee ?
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
07 October 2009 There is no rate specified for TDS deduction in case of salary.

You need to estimate tax payable on the salary, including any other income declared by the employee, and deduct the tax payable in equal instalments at the time salary disbursement.

The estimate can also be revised, if necessary and the resuatant excess/shortfall can be adjusted with the remaining instalments.
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rajesh

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rajesh (Querist)
29 January 2010 MY COMPANY'S LAPTOP IS THEFT, HOW DO I PASS THE ENTRY IN COMPANY BOOKS.
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