Tds on salaries
This query is : Resolved
08 March 2013
What steps Should be Taken during the audit of Tds Deducted on salary
Dintakurthi Tirumala
(Expert)
08 March 2013
Steps to be check for TDS on Salary:
1) HRA eligibility based on the actual rent paid by the employee on the basis of rent receipt produced
2) Interest on Housing loan if any shall be consider
3) professional tax deduction
4) conveyance allowances deduction
5) If any medical reimbursment then medical reports for such expenditure
6) Savings U/s 80C and the employee's personal savings u/s 80C based on the evidence of savings produced.
7) Any deductions allowable u/s 80U
8) If any other income reported by the employee to employer may consider for TDS pupose
9) Tax rates for such A.Y.
10) Compute tax liability as per the applicable tax rates and slabs and add education cess
11) Verify is TDS deducted is sufficient as per the requirement or any short deduction.
OM SAI SRI SAI JAI JAI SAI
1) HRA eligibility based on the actual rent paid by the employee on the basis of rent receipt produced
2) Interest on Housing loan if any shall be consider
3) professional tax deduction
4) conveyance allowances deduction
5) If any medical reimbursment then medical reports for such expenditure
6) Savings U/s 80C and the employee's personal savings u/s 80C based on the evidence of savings produced.
7) Any deductions allowable u/s 80U
8) If any other income reported by the employee to employer may consider for TDS pupose
9) Tax rates for such A.Y.
10) Compute tax liability as per the applicable tax rates and slabs and add education cess
11) Verify is TDS deducted is sufficient as per the requirement or any short deduction.
OM SAI SRI SAI JAI JAI SAI
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