Tds
This query is : Resolved
N.G.Dandayuthapani
(Querist)
20 December 2019
Any Possibles Company Deduction TDS employee full & final settlement ?
20 December 2019
It depends upon the amount involved and TDS so far deducted. The income tax working from April 19 to till date of resignation / retirement to be worked out by deducting deduction under section 10 ( House rent, uniform maintenance, hostel ) Professional tax , deduction under 80 C and 80 D etc. Then standard deduction of Rs.50000/- and basic exemption of Rs.250000/-. If still there is taxable income, TDS to be deducted. if there is any deduction for TDS is made during the period of service, that amount should also be deducted.
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