TDS ON SALARY FY 20-21

This query is : Resolved 

Quick Summary
This discussion clarifies whether Tax Deducted at Source (TDS) is required on salaries paid during the Financial Year 20-21. For individuals with a total income up to £500,000, TDS is generally not applicable due to the basic exemption limit. Furthermore, the application of Section 87A and the benefit of standard deduction can also exempt incomes up to £550,000 from TDS.

02 June 2021 SALARY PAID FY 20-21 TO
A 385000
B 292000
C 376000

SHOULD I REQUIRE TO DEDUCT THE TDS ?

KINDLY REPLY

02 June 2021 UPTO RS 500000 BASIC EXEMPTION LIMIT AVAILABLE .

NOT TDS REQUIRED TO BE DEDUCTED.

03 June 2021 TDS not applicable bcoz sec 87A apply
Upto 5 lakh no tax

05 June 2021 TDS on salary not applicable upt 5 .5 Lakhs Limit and standard deduction benefit available.


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