TDS on salary
This query is : Resolved
06 March 2008
Can anybody suggest me the procedure of deducting TDS on Salary
Is HRA or investment in LIC are the part of computation of TDS on salary
kindly give me your valuable suggestion as soon as possible,
thank you
Is HRA or investment in LIC are the part of computation of TDS on salary
kindly give me your valuable suggestion as soon as possible,
thank you
S.Srinivasaraghavan
(Expert)
06 March 2008
Please refer to section 192
07 March 2008
YES HRA AND LIC ARE CONSIDERED FOR DEDUCTION OF TDS
CA. GOPAL SONIKA
(Expert)
07 March 2008
HRA U/s 10(13A) and LIC U/s 80C are part of computation.
Chintan Gajjar
(Expert)
07 March 2008
Yes. HRA & LIC Prem. paid are taken into consideration at the time of deducting TDS. TDS on Salary are deducted on actual basis asif we are making its assessment and finding out the net Income Tax payable by him.
07 March 2008
YES ,THE EMPLOYER IS ENTITLED TO VERIFY AND ALLOW THE ELIGIBLE DEDUCTIONS TO THE EMPLOYEE FOR TDS PURPOSEINCLUDING LIC, HRA,EVEN HOUSING LOAN DEDEUCTIONS.
ACCORDINGLY THE EMPLOYER DEDUCTS TDS AND ISSUE FORM 16 .
R.V.RAO
ACCORDINGLY THE EMPLOYER DEDUCTS TDS AND ISSUE FORM 16 .
R.V.RAO
CA J M Pattanayak
(Expert)
08 March 2008
Hi,
you have to consider the approx salary for the year for deducting tax. You should consider HRA, LIC premium for calculating tds.
Consider approx salary for the year. then calculate tax and divide the total tax with no of month left n that will be your monthly deduction.
you have to consider the approx salary for the year for deducting tax. You should consider HRA, LIC premium for calculating tds.
Consider approx salary for the year. then calculate tax and divide the total tax with no of month left n that will be your monthly deduction.
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