TDS, month by month on salary

First you better collect a income tax declaration from him in which he may invest u/s 80 cc and other deductions. Ther after calclate the TDS for the entire year, then bifercate the same upto March.

During March month before deduction collect the copis of investment proof  and again prepare the TDS, if any difference is there you can deduct the same on that month.

Th eTDS of salary has to be deducted month by month.

Regards

CS Jithesh

How is TDS to be done ?

Income from salaries is to be computed on estimated basis at the beginning of each financial year.

Net income tax payable on the basis of estimated salary income should also be calculated.

Such estimation of  salary income and net tax liability may require revision periodically, depending upon change in income or investment made by the employee in the form of deposit/subscriptttion/payment.

The net tax liability is to be estimated after considering specific allowable deductions and rebates.

Every month 1/12^th of the net tax liability is required to be deducted.

Stress :

TDS u/s.192 has to be done at the time of payment of salary.

No deduction at source is contemplated u/s.192 in case where a payment towards salary has accrued but not made.

CIT V. Tej Quebecor Printing ltd

Regards

K.Ilayaraja

dear brother..

it is better for salaried person if you deduct the tds month by month.. if you deduct the tds in one month ie march. he recd few amount of salary  he can't bear all expenses.

month on month , tax needs to be deducted...Any differences in the tax due to revision of salary or non submission of investment proofs, tax can be adjusted in future.

refer point 6.4 of circular No. 1/2010 dated 11-01-2010 on Deductio ot tax from salaries

6.4 The amount of tax as arrived at para 6.3 should be

deducted every month in equal installments. Any excess or

deficit arising out of any previous deduction can be adjusted by

increasing or decreasing the amount of subsequent deductions

during the same financial year.

IT SHOULD BE MONTHLYY

Tds has to be deducted on monthly basis.

First the Employer has to estimate the employees total income in advance.. Employee can consider any other income from under any head But not losses..  only house property loss he can take for tds purpose
 And if any Deductions u/s 80c

If Total Estimated total income comes to Rs525000 means , and if tax on 525000 is Say RS48000 means the employer has to deduct in equal installment i.e rs4000/- every month ...  any adjustment can be made in the 4th Quarter