Tds
This query is : Resolved
10 February 2014
dear all;
i am employer; i have salary break up; basic, hra, special allowance;computer allowance; da, convyence allowance, other allowance
tell me on which parts of salary i deduct tds; n what is limit for zero deduction in salary n tell me is tds is deduct from partners salary
CA PARAS BAFNA
(Expert)
10 February 2014
Dear Employer-
You will have to deduct TDS on all these items after considering the respective benefits/exemptions available as per the IT Rules to the employee on account of HRA, Transportation Allowance Allowance and other allowances.
.
Employees may be told to file a declaration in respect of their other income and TDS deducted thereon, if any. The Limit is Rs 2.00 lac. You may consider this limit after considering the proofs of payments made by the employees U/s 80C and U/s 80D.
.
You will have to deduct TDS on all these items after considering the respective benefits/exemptions available as per the IT Rules to the employee on account of HRA, Transportation Allowance Allowance and other allowances.
.
Employees may be told to file a declaration in respect of their other income and TDS deducted thereon, if any. The Limit is Rs 2.00 lac. You may consider this limit after considering the proofs of payments made by the employees U/s 80C and U/s 80D.
.
CA PARAS BAFNA
(Expert)
10 February 2014
TDS is not required to be deducted on the salary of partner.
.
.
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