Tds on salary
This query is : Resolved
26 February 2019
Mr X is proprietor and Paid salary for the FY 2018-19 to Mr R Rs.324000.00 (27000 X 12) and Mr R having no investment.
My question is
1. Should I have to deduct the tds and file return.
Please reply.
My question is
1. Should I have to deduct the tds and file return.
Please reply.
26 February 2019
Yes, you have to deduct TDS u/s 92 amounting of Rs. 308 every month and also need to deposit TDS
Income Tax Slab Rates for Financial Year 2018-19.
Income up to Rs. 2,50,000 Nil
Income between Rs. 2,50,001 - Rs. 500,000 5% of Income exceeding Rs. 2,50,000
324000 -250000 = 74000 5% of Tax 3700 / 12 = 308
for further query 99903 + 63345
Income Tax Slab Rates for Financial Year 2018-19.
Income up to Rs. 2,50,000 Nil
Income between Rs. 2,50,001 - Rs. 500,000 5% of Income exceeding Rs. 2,50,000
324000 -250000 = 74000 5% of Tax 3700 / 12 = 308
for further query 99903 + 63345
26 February 2019
Certain allowances salary component is exempt u/s 10, also standard deduction 40000/- applicable, also claim rebate 2500/- taxable Salary below 350000/-,
Above salary is below threshold limit TDS not Applicable
Above salary is below threshold limit TDS not Applicable
27 February 2019
Gaurav Sir,
Is standard deduction of Rs.40000.00 is not allowed in this case.
Is standard deduction of Rs.40000.00 is not allowed in this case.
13 March 2019
your salary below threshold limit after considering standard deduction Rs.40000/- and Tax Rebate Rs.2500/-
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