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.
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.
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.
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.
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