TDS in case of new Tax regime

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41 Points Posted on 30 March 2021
Assessee is BOI, assessee has to deduct TDS for its employees. Now whether TDS will be deducted as per old Tax regime or Assesse has to give option to its employees and tax will be deducted accordingly.
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On 30 March 2021 at 16:16 Report
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This discussion clarifies how Tax Deducted at Source (TDS) should be handled for employees under the new tax regime. For salary payments, TDS is generally deducted under the old regime (Section 192). However, employees have the option to choose between the old and new tax regimes once a year. The employer must obtain employee approval to determine which regime applies for TDS calculation.

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Chartered Accountant
24588 Points Posted on 30 March 2021
TDS should be deducted under old regime u/s 192 for salary
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On 30 March 2021 at 16:53
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CMA
13117 Points Posted on 31 March 2021
As I understand, employees are free to choose (once in a year) between new and old regime.
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On 31 March 2021 at 15:49
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Chartered Accountant
24588 Points Posted on 18 April 2021
It's upto Assessee's choice
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On 18 April 2021 at 14:36
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2742 Points Posted on 18 April 2021
Employee have to give the approval to employer regarding acceptance of old or new tax regime
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On 18 April 2021 at 15:28

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