TDS deduction for salaried person

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Salaried individuals now have a choice between the old and new methods for TDS (Tax Deducted at Source) deduction. Employees must select their preferred method at the start of the financial year and inform their employer. While this choice can be changed when filing income tax returns, the employer will deduct TDS based on the initial intimation. This guide helps clarify which method is most beneficial for employers.

Daya

Daya (Querist)

16 January 2022 How to deduct TDS , AS per old method , or new option Method to deduct TDS for salaried Person. which method is beneficial to deduct TDS for employer.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

16 January 2022 Employees has to select the option and intimate the employer. Employer will deduct TDS based on option selected.
Employees can change the option at the time of filing ITR.

CA Puja Sharma

CA Puja Sharma (Expert)

17 January 2022 The employee will have to select the method of tax deduction at the start of the FY and should be intimated to the employer.
However, if the employee wants he can change the method of calculating tax at the time of return filing.

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