Query of tds salary return

Hello Lalit,

The Company should not liable to deduct the TDS of the employee as his salary is below the taxable income U/s 192 of the income tax act,1961.

As Company should not show in the income tax return.

Dear Hemant thanks for the reply, but my query is "in tds 4th qtr return, company has to show hole year employee salary details than company have to show only that employee detail who has tds deducted or all the employee including who has not tds deducted during the year.

Dear Lalit

company is required to show details of only persons whose TDS is deducted by company. 

Mr lalit,

There is no requirement to show all the employees salary details in tds return of the comapny.

Plz focus in above example

Salary of employee I   240000

Deduction U/S VI         30000

Total income             210000

Comapany Should show these employee in tds return whose income is taxable but due to deduction they are not required to pay tax as come in under the slab rates.

Salary of Employee II    200000

Deduction                     nil

Total income               200000

For F.Y 2013-14 There is exemption limit is 220000 below 60 yr employees.

Company should not require to show these employees in tds return.

If you have any doubt regarding this provision plz reply..

Dear Hemant,

Thanks for your valuable information.

but as you have mention exemption limit 2.20 lacs for f.y. 2013-14, as I know the limit is 2 Lacs. please correct if I am wronge.

Thanks

Lalit you are right, that basic exemption limit is 2 lac for Individual/HUF 

but one would not be liable to pay tax on 220000/- if his/her total taxable income is 5 lac or below. because u/s 87 A, a relief of 20000 is also provided.

hence check section 87 A.

Hi Lalit,

I think u understand the provision if u have any query regarding that provision u can ask freely.