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TDS on salary

Tejas Gandhi (143 Points)

27 January 2020

i m paying 25000 monthly salary to x. am. I suppose to deduct TDS on the Said amount yearly total payment 300,000

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5 Replies

CA. Nirmeet Shah (Chartered Accountant) (716 Points)
Replied 27 January 2020

No TDS is require to be deducted under section 192 for AY 2020-2021.

CA SANDESH MAHIPAL (Practicing in GST and MSME ) (1985 Points)
Replied 27 January 2020

TDS is to be deducted on estimated amount of taxable income of employee.
In your case, no income tax liability arises. So no TDS is to be deducted.
Regards

Kapadia Pravin (17249 Points)
Replied 27 January 2020

On yearly payment of 3 lakhs, employee gets standard deduction of 50000/- So income falls to 250000/- and hence no TDS on salary.

CA Kiran Sutrave (CA) (428 Points)
Replied 27 January 2020

Not needed. If employee does not provide PAN / Aadhar No. then TDS @ 20.80%

Dr. Rajendrakumar N. Suryawans (38 Points)
Replied 28 January 2020

There is no need to deduct tax.

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