TDS deduction and tax rebate
This query is : Resolved
Quick Summary
30 March 2023
Hello everyone. I have a doubt relating to TDS deducted by company and tax rebate.
If my income is 6 lacs and I don't have any investments made. How it is taxable if I want to opt for new tax regime wherein upto 7lacs is zero tax liability?
If from 3-6 lacs there is 5% of tax is applicable. Is it that our company will deduct tds and then we need to claim it under tax rebate u/s 87A? Or no TDS will be deducted?
If my income is 6 lacs and I don't have any investments made. How it is taxable if I want to opt for new tax regime wherein upto 7lacs is zero tax liability?
If from 3-6 lacs there is 5% of tax is applicable. Is it that our company will deduct tds and then we need to claim it under tax rebate u/s 87A? Or no TDS will be deducted?
CA R SEETHARAMAN
(Expert)
30 March 2023
No TDS will deducted.
Message likes :
1 times
30 March 2023
Okay, May I please know how sir? Also guide me on
1.what salary amount TDS is require to deduct.
2. When and how tax rebate can be claim?
1.what salary amount TDS is require to deduct.
2. When and how tax rebate can be claim?
CA R SEETHARAMAN
(Expert)
30 March 2023
1 Rebate is allowed in TDS calculation.
2 you can file ITR if you want.
2 you can file ITR if you want.
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