Tds on salary
This query is : Resolved
01 May 2014
Dear Experts,
We have deducted the TDS @ 20.6% Rs. 12078/- on Gross Salary Rs. 258632/- for the year as pan of the employee is not available and filed our TDS Return Form 24Q accordingly.
Now, TDSCPC has issued a demand notice to us and they calculated Gross TDS as Rs. 51726/- on it. Is it correct? If no, please write what we can do in this regard.
Thanks in advance..
Manish
We have deducted the TDS @ 20.6% Rs. 12078/- on Gross Salary Rs. 258632/- for the year as pan of the employee is not available and filed our TDS Return Form 24Q accordingly.
Now, TDSCPC has issued a demand notice to us and they calculated Gross TDS as Rs. 51726/- on it. Is it correct? If no, please write what we can do in this regard.
Thanks in advance..
Manish
01 May 2014
Hi
When PAN no. is not given than TDS@ 20% is to be deducted on entire taxable income without giving thresh hold deduction of Rs . 2 lac.
Also no cess is applicable on it.
Thx
When PAN no. is not given than TDS@ 20% is to be deducted on entire taxable income without giving thresh hold deduction of Rs . 2 lac.
Also no cess is applicable on it.
Thx
Rupesh Jain
(Expert)
01 May 2014
when an employee have no PAN then you have to deduct TDS @ 20% on all amount paid by you to employee.
TDS will deposit Rs. 51726/-@ 20%
TRACE demand is right.
TDS will deposit Rs. 51726/-@ 20%
TRACE demand is right.
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