How can i justify tds as given below

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Dear Sir, Some of my staff drawing their salary from 276000 to 300000 p/a and their salaries issues on 10th every month and their incentives will issue on 20th every month (whoever earns) Now i have to do TDS from their salaries. Now my doubt is that 1) How can i club their salary and incentives for a month and how can i deduct tds from their salary. 2) example Ram having total salary income for a month is 23000/- (276000/- annual income) after deducting 250000/- taxable income is 26000/-. so his payable tax is 1300/- per year. per month tds is 108/- deductible. Can i deduct less than /more than 100 as tds?
Replies (6)

yes right but consider other income also and  tax saving investment 

then do calculations 

 

Dear Mr. DG Kumar,

 

TDS on salary is deductible monthly basis of average monthly tax on Total Estimated annual income including actual income of previous months.

In this case you calculate the total income of person after giving effect of Investment eligible under chapter VI A of Income Tax Act.

 

For More clarifications you can contact me on my mail i.e. canavratanswami @ gmail.com

 

 

Dear sir,

Thank you all 

Instead of duduct around Rs.100/- from salaried person, i paid them full salary. They will pay income tax (if payable) at the end of year. Is it offence by me?

 

not offence but if tds not deducted that much expense add to income of your 

company 

Dear Sir,

Some one told me that, Even if a salaried person belongs to 5% category but we have to deduct 10% of tds from their monthly salary. Later the employee should submit thier reuturns then they will get back, whatever amount they paid excess.

Please give me suggestions, i have to follow tds from may'17 onwards

Thank you sir

Dear Sir,

Some one told me that, Even if a salaried person belongs to 5% category, but we have to deduct 10% of tds from their monthly salary. Later the employee should submit thier reuturns then they will get back, whatever amount they paid excess.

Please give me suggestions, i have to follow tds from may'17 onwards. should i deduct 10% of their monthly salary or average monthly amount of tds? 

Thank you sir


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