TDS on Salary

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24 January 2008 kindly give the details of deducting TDS on salary, thak you

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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25 January 2008 What details?

R.V.RAO

R.V.RAO (Expert)
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25 January 2008 SECTION 192 OF IT ACT DEALS WITH SALARY TDS
NO TDS DEDUCTIBLE UNLESS THE ESTIMATED SALARY EXCEEDS THE THE AMOUNT NOT CHARGEABLE TO TAX .
NOTIFIED ALLOWANCES UNDER SEC 10 (14) NOT SUBJECT TO TDS.
HRA AND OTHER ALLOWANCES ARE TAXABLE AFTER ALLOWING CURRENT APPLICABLE DEDUCTIONS.
THE EMPLOYER CAN ALSO CONSIDER VARIOUS DEDUCTIONS LIKE 80 C ,80CCC, 80CCD,80D,80DD,80DDB,80E,80GG AND 80 U ETC...SUBJECT TO DOCUMENTARY EVIDENCE PRODUCED.
PERQUISITES TAXABLE WILL BE VALUED AND TAXED AS PER APPLICABLE CURRENT LAW.
EMPLOYER CANNOT ALLOW DEDUCTION UNDER SEC. 80 G-DONATIONS FOR CHARITABLE PURPOSE.OTHER CONTRIBUTIONS SUBJECT TO 50%DEDUCTIONS ARE ALLOWABLE.
R.V.RAO

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