Tds deduction of an employee

TDS is deductible only when tax liability arises after chapter VI deduction

Originally posted by : daya shankar singh
	TDS is deductible only when tax liability arises after chapter VI deduction

Thanks mate for the reply

Do you i need to retain a copy of the investments made ? Also Do I need to isse Form 16 ?

HI krishna,

               first of all if this is related to A.Y. 2011-12 as you have written than for men the tax slab was from Rs.1,60,000/- and not Rs.1,80,000/-, it is Rs.1,80,000/- from A.Y.2012-13..and yes you have to file nil TDS return even if no TDS is to be deducted and you will have to issue TDS Certificate i.e. in case of salary FORM 16 and for your record you better keep photocopy of investment made by them.

my view is considering the assumption that  your business is covered u/s 44AB, i.e your turnover is above Rs.60 Lakhs or Rs.15 Lakhs if professional.

Originally posted by : Kaushik Manoj Dedhiya
	HI krishna,                first of all if this is related to A.Y. 2011-12 as you have written than for men the tax slab was from Rs.1,60,000/- and not Rs.1,80,000/-, it is Rs.1,80,000/- from A.Y.2012-13..and yes you have to file nil TDS return even if no TDS is to be deducted and you will have to issue TDS Certificate i.e. in case of salary FORM 16 and for your record you better keep photocopy of investment made by them.

Please check these links - 

https://business.mapsofindia.com/india-tax/structure/slabs-2011-12.html

https://www.pankajbatra.com/finance/income-tax-calculator-for-2011-2012/

They all say tax slab is 180000 

??

Dear Krishna

                      The link which you provided is right but its for Financial Year 2011-12, where as you have written for Assessment Year 2011-12, There is a difference between F.Y. and A.Y. as per Taxation Laws, if its related to F.Y.2011-12 then its definitely Rs.1,80,000/- but if its related to A.Y.2011-12 then its definitely Rs.1,60,000/-. So kindly reply your year...in any case you will have to file nil return and submit TDS returns and give your employee FORM 16.

Originally posted by : Kaushik Manoj Dedhiya
	Dear Krishna                       The link which you provided is right but its for Financial Year 2011-12, where as you have written for Assessment Year 2011-12, There is a difference between F.Y. and A.Y. as per Taxation Laws, if its related to F.Y.2011-12 then its definitely Rs.1,80,000/- but if its related to A.Y.2011-12 then its definitely Rs.1,60,000/-. So kindly reply your year...in any case you will have to file nil return and submit TDS returns and give your employee FORM 16.

Hi Manoj,

1) I am below 60 lacs :)  so I think  u/s 44AB does not apply . In which case I do not think I need to file nil return :) . Please correct me If I am wrong ...

2) In my case both Financial and Accounting year are the same.

Looking forward to your reply