Dear all,
If income tax of employee Rs.52000.
How much TDS to be deducted per month.
May I deduct the TDS amount in last three months
Please replu as soon as possible.
Thanks to all
Venkatesh
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Tds
Replies (3)
Dear Venkatsh,
In my opinion TDS on salary should be deducted on monthly basis on estimated income from salary by dividing estimated tax by 12.
If tax payable is Rs. 52,000/- after computing salary, deductions etc, the employer is required to deduct TDS equal to the tax payable divided by 12 months ie Rs. 52,000 / 12 = Rs. 4,333/- pm
Hi,
TDS to be deducted on the estimated income divided by number of months of his employment. However, if does not have PAN, deduct 20% (Without education cess & Higher education cess)
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