TDs on salary
This query is : Resolved
Dhirendra singh
(Querist)
30 June 2010
mr. X is a employee on annual monetory Salary is Rs. 5lakh and valued non monetory is Rs. 80000 p.a. Now total taxable income is Rs. 580000.
Q. Employer wish to pay tax on perquisites from his own pocket. What amount of tax he should deposit?
Q2. What will the average tax rate for calculation of TDS?
Q3. How the employee proof that he has tax free perquisits?
Q. Employer wish to pay tax on perquisites from his own pocket. What amount of tax he should deposit?
Q2. What will the average tax rate for calculation of TDS?
Q3. How the employee proof that he has tax free perquisits?
CMA Ramesh Krishnan
(Expert)
30 June 2010
Q.1.TDS on Perqusites also need to pay by employee only.there is no provision for employer paying tax on Perks after Abolised FBT (own pocket means deducting salary also own pokcet only)
Q.2. Total tax liablity need to calculate by the employer and deduct monthly
Q.3.for perquistes valuation need to refer valuation rules u/s.17
Q.2. Total tax liablity need to calculate by the employer and deduct monthly
Q.3.for perquistes valuation need to refer valuation rules u/s.17
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