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.
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
