Tds on salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 August 2011 A pvt ltd company pays Rs.280000/- to one of his employee.The employee Invests Rs.1lac in prescibed avenues as per Sec80 of the I T Act like LIC,PPf,NSC,ELSS etc.He produces all the documentary evidence to the Company.Is the Company liable to deduct TDS on salary of that Employee.Pls advise.

CA Ashwani Agarwal

CA Ashwani Agarwal (Expert)
Follow

24 August 2011 As the minimum exemption limit from the next year is 180000. Therefor no need to deduct tax.

Message likes : 1 times

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

24 August 2011 Since the Income is not crossing tax exemption limit of Rs 180000/-. No need to deduct TDS.

Out of Rs 2.8 lacs,1 lac is investment u/s 80C and 1.80 lac is basic exemption. Therefor tax liability is nil and so no need to deduct TDS.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Subbiah S

jagadheswar goud

KAVITA CHAUHAN

Vimlesh kumar

S Soundarya

Subscribe Now

Tds on salary

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA