Tds on salary of employees
This query is : Resolved
03 September 2013
Sir/madam,
What is the Basis for Deduction of TDS on Salary of Employees? and Rate Applied for Them
What is the Basis for Deduction of TDS on Salary of Employees? and Rate Applied for Them
03 September 2013
For TDS deduction on salary there is no specific rate of TDS. The normal slab rates applicable for tax deduction on Salary.
So first you have to compute taxable salary income after deductions of all exemptions and deductions(savings etc...) based on the data(information) available at the employer and compute tax liability on that income and deduct TDS equally for each month if any excess or short amount of deduction required then such amount you shall adjust at the last month of year.
For full details please refer section 192 of the income tax act,1961.
OM SAI SRI SAI JAI JAI SAI
So first you have to compute taxable salary income after deductions of all exemptions and deductions(savings etc...) based on the data(information) available at the employer and compute tax liability on that income and deduct TDS equally for each month if any excess or short amount of deduction required then such amount you shall adjust at the last month of year.
For full details please refer section 192 of the income tax act,1961.
OM SAI SRI SAI JAI JAI SAI
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
- TDS 194-T applicability
- Tds on commission charges
- Fixe term employment
- GST ITC REVERSE
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- TDS on TRUST
- Section 50-fixed asset-->building ceases to exist
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Regarding Applicability of Tax Audit u/s 44AB
- Need Professional Opinion AY 2012-13 Old Demand
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
