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Tds deduction in case of salary
Whether liability to deduct TDS against salary arises if salary paid to empoyee is 2.50 lakhs or above , or whether the TDS need to be deducted if salary is 2.70 lakhs or above due to rebate U/S 87 A
Replies (1)
Dear Mohit,
You must be known with the rule that TDS on salary has no fix rate. It totally depends on the expected amount of income tax which is to be deposited at the end. In the process of calculation of expected taxable salary you will have to consider every rebate and deduction under chapter VI A (80C to 80U). After considering these if there is any tax amount becomes payable, it should be divided into 12 parts and to be deducted every month from employee’s salary.
Regards
Shreesh Kumar
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