Tds on salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2012 Whether an employer can deduct TDS from the salary in current financial year if an employee whose monthly salary is Rs. 25,000/- and he has been working in that organization since November, 2011.

TDS on Salary can be deducted with effect from 1st April, 2012. If yes, amount of tax to be deducted. If not, applicable Section under Income-Tax Act.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

08 June 2012 Section 192 of the Income Tax Act deals with TDS on salary.

Applicability of TDS will depend upon the estimated total income of the employee for the year.

Compute the estimated income of the employee for the period April, 2012 to March, 2013.

If this income exceeds the exemption limit, then the employer is liable to deduct TDS.

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

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

Pranab Banerjee

Fredrick Samraj

BALU RAJADURAI

NICKOONJ VANANI

Purav Dholakia

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