TDS on Arrears Salary for PVt Ltd
This query is : Resolved
23 August 2010
If any Pvt. ltd company paid arrear salary to employee – (e.g Arrear paid from April -10 to July -10) what is process for tds deduction on arrear amount. Deduct tax on arrears from April to July & paid or deduct the tds next 8 month. In income, tax under which section guide me.
23 August 2010
between the financial year april to march whatever you receive will be taken for taxable income. you may calculate the tax liability after claim all the section.
Message likes :
2 times
Guest
Guest
(Expert)
23 August 2010
TDS on salary means tax on taxable salary after deduction etc divided by months.
now as you receive arrear salary, it means your tax on taxable salary is changed now so now you have to calculate tax on your revised total salary for the year including salary already paid to you. calculation will be as follows
-- Total taxable salary for April to march including arrear salary
-- Tax on above salary
-- Less Tax already deducted
-- resulting figure to be divided by the months of service to be rendered(i.e. 9 month in above case).
now as you receive arrear salary, it means your tax on taxable salary is changed now so now you have to calculate tax on your revised total salary for the year including salary already paid to you. calculation will be as follows
-- Total taxable salary for April to march including arrear salary
-- Tax on above salary
-- Less Tax already deducted
-- resulting figure to be divided by the months of service to be rendered(i.e. 9 month in above case).
Message likes :
1 times
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
