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Tds on salary

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Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2013 An employee whose salary is more than exemption limit in a whole but he join our company during the December month.

Are we liable to deduct TDS in this financial year?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 January 2013 Yes, You are liable to deduct tax. Considering the old salary and TDS on salary , you have to deduct TDS. In case no Deduction was made by the previous employer, your company has to deduct that part of TDS also from the salary of employee.
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Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2013 Is there any need of Form 12 B

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 January 2013 Yes sir, you have to get Form 12B from the assessee employee to duly discharge your TDS obligations.

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