TDS ON SALARY FY 20-21

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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.

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

SHOULD I REQUIRE TO DEDUCT THE TDS ?

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Gokul Sharma

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Gokul Sharma (Expert)
02 June 2021 UPTO RS 500000 BASIC EXEMPTION LIMIT AVAILABLE .

NOT TDS REQUIRED TO BE DEDUCTED.
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CA Rajat Pathak

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CA Rajat Pathak (Expert)
03 June 2021 TDS not applicable bcoz sec 87A apply
Upto 5 lakh no tax
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
05 June 2021 TDS on salary not applicable upt 5 .5 Lakhs Limit and standard deduction benefit available.
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