I pay around 6 Lakhs per annum salary to each of my employees in my company. They file tax returns under the new regime. I want to ask do I need to deduct TDS from the salary as it exceeds the basic exemption limit or I don't need to as they will get it all refunded because it is less than 7 lakhs which is tax-free as advised by my CA.
Yes!!
No Tax Shall be payable by Employee's.
Meanwhile arrange to collect declaration from employees in Form 12BB towards Other income earned and investments made.
This will ensure compliance in full.
Thanks
So you mean to say I don't need to deduct TDS if their total income including their other income is less than 7 Lakhs...Right?
| Originally posted by : Sanjit Kumar | ||
 |
So you mean to say I don't need to deduct TDS if their total income including their other income is less than 7 Lakhs...Right? |  |
Yes, If it's under New regime.
SSGS and Associates
Chennai
CA Inter
View Details
CAclubindia
