Tds of new employee
This query is : Resolved
06 February 2014
Please describe in details the procedure to compute TDS to be deducted of a new employee in a private limited company, having salary income from ex employer as well as current employer, besides business income and income from other sources.
06 February 2014
you need to consider the salary earned from the previous employment, business income and income from other sources to the extent such information is provided by the employee. Please note that no loss except from loss under "income from house property" is to be considered.
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07 February 2014
Thanks Nikhil Sir, But is there any specified form or format to collect such information from this new employee?
07 February 2014
yes. Form 12B https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/pdf/itr62Form12B.pdf
07 February 2014
Can refer this link.
https://www.caclubindia.com/articles/what-is-salary-how-to-calculate-tds-on-salary-16151.asp#.UvRgemKSxKo
https://www.caclubindia.com/articles/what-is-salary-how-to-calculate-tds-on-salary-16151.asp#.UvRgemKSxKo
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