Tds deduction on salary.
This query is : Resolved
Guest
Guest
(Querist)
12 October 2012
Dear Expert,
We are a sole proprietorship in Delhi. We have more thn 10 employees. We got our TAN NO on 10th of July 2012 but We are paying salary to our employee from April'12. My question is tht should I deduct TDS from April'12 nd pay interest accordingly or I hv to deduct TDS frm July onwrds. As in our co. employees are below 20 in number, so should I deduct PF from salary?? Plz provide me the breakup of salary for a sole proprietorship. Thnks in Adv!!
We are a sole proprietorship in Delhi. We have more thn 10 employees. We got our TAN NO on 10th of July 2012 but We are paying salary to our employee from April'12. My question is tht should I deduct TDS from April'12 nd pay interest accordingly or I hv to deduct TDS frm July onwrds. As in our co. employees are below 20 in number, so should I deduct PF from salary?? Plz provide me the breakup of salary for a sole proprietorship. Thnks in Adv!!
12 October 2012
Registration in PF department and deducting TDS both are different.
TDS deduction liability arises only when employees paid salary above basic exemption limit only or you can say having taxable salary after taking deduction under chapter VII
TDS deduction liability arises only when employees paid salary above basic exemption limit only or you can say having taxable salary after taking deduction under chapter VII
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
