section 192B

SEC 192B IS RELATES TO TDS ON SALARY

As per this section, employers are required to deduct TDS on the salary paid to their employees. The TDS rate is determined based on the employee's income tax slab rate for the financial year. The employer is required to deduct TDS every month and deposit it with the government.

Section 192 deals with Tax Deducted at Source (TDS) on salary payments.

• Employers responsible for deducting TDS can be companies (private or public), individuals, HUF, trusts, partnership firms, or co-operative societies.
• TDS rates are not specified in Section 192. The deduction is based on the income tax slab rates applicable to the employee for the relevant financial year in which the salary is paid.
• If an employee does not have a PAN (Permanent Account Number), TDS will be deducted at a flat rate of 20%.
• Employers must deduct TDS from the employee's salary at the time of payment and deposit it with the government within the specified due dates.
• Employees can claim a refund or adjust excess TDS deducted while filing their income tax returns.
• It is essential for employees to provide their PAN details to avoid higher TDS deduction.