TDS on salary
This query is : Resolved
11 June 2011
paying monthly salary of rs.75000 .my question is that is it mandatory to deduct TDS on salary monthlywise and which is the percentage of deduction rate for the F.Y 2011-12
CA PARAS BAFNA
(Expert)
11 June 2011
You have to calculate for the year tax on the estimated Total Income ( Salary Income plus any other income as declared by the employee after adjusting the allowable deductions)
and find out monthly average of the tax amount. The same has to be deducted every month and to be deposited on or before 7th of the next month.
and find out monthly average of the tax amount. The same has to be deducted every month and to be deposited on or before 7th of the next month.
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