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Tds liablity on salary

TDS 594 views 2 replies
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PROP.
28 Points Posted on 01 March 2015

If any person( Company, Firm, Prop. firm not havinf turnover of more than 100 lacs)  paid salary  to employees more than tax free imit, whether it is necessary to dedust tds on salary.Please clarify  

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On 01 March 2015 at 14:59 Report
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Wealth Manager
5293 Points Posted on 01 March 2015

Yes, TDS will have to be deducted from salary.

13 Reply
On 01 March 2015 at 15:58
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!..Live to Give..!
16532 Points Posted on 01 March 2015
TDS is solely the obligation of the employer but, if as an employee you are aware that there is a TDS default, then you may be held responsible too. If your total income exceeds the maximum amount not chargeable to tax and no TDS is being deducted by the employer, then you are under an obligation to pay tax through the advance tax route.
 
You should estimate your total income for the year that could comprise of salary, house property, interest income etc. Relevant deductions applicable to each source of income, on account of eligible investments, interest on housing loans, etc, can be considered to calculate the taxable income. On this amount, you should calculate the tax payable as per the applicable tax rates.
 
30 Reply
On 01 March 2015 at 16:25


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