Tds on salary
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 April 2012
Dear Friends, If we paid salary for 10 months to someone in the current financial year & balance salary of 2 months paid in next financial year, wat will be TDS impact, whether we have to deduct TDS for whole year in the same year or we will have to deduct TDS of two months in the next financial year. Thanks in advance.
12 April 2012
Incom from salaries taxable based on the accrual or receipt which is earlier. I.e Salary would be taxable in the year which it accrued or receipt which is earlier. so in your case even though salary for two months paid in the next year the two months salary accrued in the current year so you have to deduct TDS for the whole year i.e. for 12 months salary.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
Message likes :
1 times
13 April 2012
YES,AGREE WITH ABOVE EXPERT.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
