Tds on salary

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A.JAGADEEP (Querist)
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26 July 2013 Dear Sir,

I've a doubt regarding the TDS on salary (sec-192).

The doubt is when TDS should deduct whether at the time crediting the employee( i.e; at the time of passing the J.V entry) or at the time of making payment(i.e; at the time of making bank payment)?

As per Income Tax act Sec-192

192. Any person responsible for paying any income chargeable under the head "Salaries" shall, at the time of payment, deduct income-tax 53[***] on the amount payable at the average rate of income-tax54[***] computed on the basis of the 55[rates in force] for the financial year in which the payment is made, on the estimated income of the assessee under this head for that financial year.

plse rply me sir......

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 July 2013 u need to deduct it earliest of making payment or at the time of crediting a/c of employee.

Hemant Kumar

Hemant Kumar (Expert)
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26 July 2013 You should deduct tds at the time of salary payable provisions.

A.JAGADEEP

A.JAGADEEP (Querist)
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26 July 2013 Mr. Sam pat sir,
first of all thaks for your reply.
see the first 2 lines in sec-192, there is a sentence - "at the time of payment, deduct income tax".

what is the meaning of that sentence.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 July 2013 i will ask you 1 question incase for march salary accrues evry day but actually payment is made in april so when u will deduct tax in march or april?????

what in case if salary is not paid in cash but in kind then how wil u apply the above provison??

A.JAGADEEP

A.JAGADEEP (Querist)
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26 July 2013 Generally what all the companies are doing was deducting TDS at the time crediting to the account. But when i go through the provision, i found the line "at the time of payment, deduct income tax". so due to this line i confused. so once again please observe this and reply me sir....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 July 2013 no need to get confuse just deduct tax when u provide for booking salary entry because cash salary payment may be deffered also.

A.JAGADEEP

A.JAGADEEP (Querist)
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27 July 2013 thanq for u r kind information sir....

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