TDS ON SALARY

HI deepak

tax is deducted on due or paid basis whichever is earlier

so u have to deduct tds on salary paid in advance
 

Deepak Ji,

Is my openion co. has paid advance agst. salary to employee this is for recover basis or not

If you are adjust for next month salary can you deduct TDS on time

and this is not for recover basis you are deduct tds as per slave of ITR.

Regards,

Rahul Sharma

you are a employee on salary and tax will be deduct on your salary on the basis of due or paid whichever is earlier, so salary paid to you is advance salary. therefor employer will deduct tax

Salary is taxed on due or paid basis whicever is earlier

salary received in advance is liable for tds just like normal salary!!!!!!!!

agreed with all the above replies

Meaning of Salary”,under Sec 17(1) defined.

⁸⁴17. ⁸⁵For the purposes of sections 15 and 16 and of this section,—

             (1)   “salary”⁸⁶ includes⁸⁶—

         (i)   wages;

        (ii)   any annuity or pension;

      (iii)   any gratuity⁸⁶;

       (iv)   any fees⁸⁶, commissions, perquisites or profits in lieu of or in addition to any salary or wages;

        (v)   any advance of salary;

Therefore any advance of salary is covered under sec 17(1) and hence subject to TDS

ya TDS  should be diducted on such advance salary if advance paid as salary advance

hii deepak. advance against salary and salary received in advance are two separate issues. an advance against salary is like a loan and so tds should not be deducted and the employee need not include this advance in his income.

Suppose my total annual Taxabel salary 1,50,000/- and I take loan from co. on Feb 1,00,000/-, tds should deducted.  and I deducted 7000/- per month from my salary,

Hi  shekhar it is simple  loan and not  advance of salary therefore TDS not to be deducted 

TSD is the part of Tax deducted at source. It means the part of Tax deducted at the time of earning. For Ex. when Bank pay interest on savings, they deduct the part of Tax from interest paid and send the amount directly to the taxation department.

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