Tds on salary
This query is : Resolved
24 September 2014
Generally employers make provisional computation of income of its employees & deduct tds on monthly basis from beginning of the year or date of joining, whichever is earlier... Can employer compute provisional income n wait till the month when it's employees salary exceeds basic exemption and then start deducting tds..... If yes... Is there any interest leviable for late deduction n late payment.....
Nikhil Kaushik
(Expert)
24 September 2014
for the employees whose annual income is expected to exceed the minimum exempted limit, you need to deduct TDS on monthly basis only. Non-deduction would attract interest liability...
25 September 2014
yes int is 1% for late deduction and 1.5% for late deposit
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