Tds
This query is : Resolved
Guest
Guest
(Querist)
27 October 2012
if employee's total tax is calculated around 350 for the year then wether tds should be deduted p.m. by amount 30(350/12)
Amol S Joglekar
(Expert)
27 October 2012
AS per the true intent of LAW, TDS be deducted on month on month basis.
Guest
Guest
(Querist)
27 October 2012
but its a vry small amount.Cant we deduct it only from the salary of march or can't we ignore it?
Amol S Joglekar
(Expert)
28 October 2012
Quite possible. INR 350 may be deducted in one month itself. "Materiality" is always merit consideration..... It is sn sltogether different story when it come to ACT. (Remember the famous dialogue of INDIAN HINDI movie..... be it 1 paisa or 1 lakh... robbery is robbery)
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