Tds on salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2012
Dear Sir,
Our partnership firm pay salary to marketing executive Rs.20,000 per month & empolyer paid house rent Rs.7,000 per month,Paid health insurance Rs.12,000 per annum,Paid LIC Rs.3,000 per annum.
Is Tds Chargeable on it salary.
Thanks in advance.
Our partnership firm pay salary to marketing executive Rs.20,000 per month & empolyer paid house rent Rs.7,000 per month,Paid health insurance Rs.12,000 per annum,Paid LIC Rs.3,000 per annum.
Is Tds Chargeable on it salary.
Thanks in advance.
Amol S Joglekar
(Expert)
14 September 2012
prima facie TDS is applicable. (In order to work out the exemption on HRA, you need to provide the details as to a.rent paid b. HRA received by the employee i.e. given by the employer.)
Pankaj Gupta
(Expert)
14 September 2012
Calculate the total income of the employee (after giving effect to all the applicable deductions u/s 80c etc). If the total income exceeds the limit of exemption ie 180000, then tds is required to be deducted.
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