TDS on Salary

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2011 dear
my client is paying salary @rs 30000 pm from april 2010 onwards. My question is is any liablity to deduct tax and computation of interest if any.

the employee has no other income

expecting to hear

Rahul

Rahul (Expert)

01 April 2011 See the annual income of the emplyee worked out at Rs. 3,60,000.00 Therefore TDS will be required to be deducted. On Rs. 200000 assuming no declaration is furnished by the assessee. It also depends upon the salary breakup.

Rameshwar Patel

Rameshwar Patel (Expert)

01 April 2011 Dear,
As your client is paying salary of Rs. 30000 PM and it is exceeding normal slab of Rs 160000*(Male)/190000(Female) so TDS is compulsorily to be deducted.

while caclculating TDS to be deducted you can consider all deductions(Section 80) except 80G "Donation". you can also consider House property loss if any.

TDS Amount =
Salary - Deductions u/s 80 - Setoff of HP loss.

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