tds on salary
This query is : Resolved
CA Kapil B Gupta
(Expert)
23 April 2010
Tax on Salary is deducted only when Salary is Taxable.
If Tax is deducted as and when Salary was taxable and later on after investment u/s 80C or others, Taxable salary reduced to below taxable limit, than tax on salary which was deducted from employee's salary is refundable only when the assessee files his/her return in proper manner and as per law.
If Tax is deducted as and when Salary was taxable and later on after investment u/s 80C or others, Taxable salary reduced to below taxable limit, than tax on salary which was deducted from employee's salary is refundable only when the assessee files his/her return in proper manner and as per law.
23 April 2010
Thank you so much.
Could you please tel how much of tax should a person who earns a montly salary of 25,000/- pay the tax
Ex: There is only tax saving of LIC, wherin she pays Rs'1646/- every quarter.
Could you please let us know the tax to be paid and is there any refund she can get of the salary deduction
Could you please tel how much of tax should a person who earns a montly salary of 25,000/- pay the tax
Ex: There is only tax saving of LIC, wherin she pays Rs'1646/- every quarter.
Could you please let us know the tax to be paid and is there any refund she can get of the salary deduction
CA Kapil B Gupta
(Expert)
23 April 2010
In your case, salary is below taxable limit after considering exemption limit and investment in LIC. So no need to deduct withholding tax on salary.
If tax is deducted by the employer, She can claim for refund.
If tax is deducted by the employer, She can claim for refund.
23 April 2010
I have a collegue whose montly salry is Rs.13000/- and does not have any savings. how much of tax would be deducted for him
23 April 2010
Mr.Gupta Cuold you please explain how does Rs.25000/- pm would be below taxable amount.
CA Ashok Kumar Sahu
(Expert)
23 April 2010
13000*12=156000 below taxable limit no tds require
CA Ashok Kumar Sahu
(Expert)
23 April 2010
25000*12=300000-4938 80c=295062
tax in the case of men - 13911 tds pm 1160/-
if women - 10821/- tds pm - 902/-
tax in the case of men - 13911 tds pm 1160/-
if women - 10821/- tds pm - 902/-
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