Tds on salary
This query is : Resolved
20 May 2013
Hi I have a query regarding TDS on Salary.If an employee is drawing salary of Rs.42000 p.m, and he left the job in may 2013. Is there any requirement to deduct TDS from his salary for F/Y 2013-2014.??
Please reply ASAP.
Thanks in advance.
Please reply ASAP.
Thanks in advance.
CA Kapil Verma
(Expert)
20 May 2013
if the salary paid for f/y 2012-2013 was above taxable limit , then its required to deduct the TDS on the same.
20 May 2013
The employee has received only one month salary from our company and left the job..so should we deduct tds or not..??
CA Kapil Verma
(Expert)
20 May 2013
As he get only one month salary which is Rs 42000/- which is not above taxable Limit. hence no need to deduct TDS
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CA. RICHI SAXENA
(Expert)
20 May 2013
Dear,
At the time when the salary of the said amount was being paid to the employee the TDS deductibility was there very much. It could not have been ascertained in the month of April itself that the employee will leave job in the month of May or not. As such the TDS was required to be deducted as soon as the salary was due for the month of april.
Salary has to be fairly estimated for the whole year and not to be ascertained as and when it crosses the exemption limit.
You need to deduct TDS on the said sum.
Regards,
CA.Richi Saxena
At the time when the salary of the said amount was being paid to the employee the TDS deductibility was there very much. It could not have been ascertained in the month of April itself that the employee will leave job in the month of May or not. As such the TDS was required to be deducted as soon as the salary was due for the month of april.
Salary has to be fairly estimated for the whole year and not to be ascertained as and when it crosses the exemption limit.
You need to deduct TDS on the said sum.
Regards,
CA.Richi Saxena
CA Kapil Verma
(Expert)
20 May 2013
The employee work for 1 month only and the salary is not above exemption limit.
Then how can TDS will be deducted.
Then how can TDS will be deducted.
CA. RICHI SAXENA
(Expert)
21 May 2013
SIR I HAVE ALREADY QUOTED ABOVE THAT THE SALARY HAS TO BE FAIRLY "ESTIMATED" FOR THE WHOLE YEAR AND IT HAS NOT TO BE SEEN IN ITS ONLY INDIVIDUAL ASPECT OF BEING RECEIVED.
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