TDS on salary

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Please guide me. TDS on salary for the First Quarter {Financial year 2011-2012}.

 

We have paid salary for one of our staff as follows:

 

Salary paid for the month of April, May, & June                  - 90,000

Exemption - HRA & TA  {3 months}                                     -  23,400

Gross Total salary                                                                  - 66,600

 

LIC & PPF payable for the whole year   {12 months}             -1,00,000

 

1. Whether i have to deducted TDS for the I Quarter if sop what is the amount please show the calculation

or

i have to deduct TDS on salary once the Total Salary paid exceed the basic limits {after deduction chapter VIA - PPF and LIC}

 

2. If TDS should not be deducted for the first quarter, Whether i have to show the Gross Salary paid Rs. 66,600 and TDS deducted Nil  in the tds return for the I Quarter. 

Replies (4)

66600*4=266400-100000=166400(taxable income)

Tax on 160000 is NIL as basic limit -     0

Tax on 6400 is (6400*10%)               - 640(p.a)

TDS for first quarter is (640/3)           - 160 ( per quarter )

If der is experts, plz correct me if im wrong.

YES AGREE WITH MANIKA 

No need to deduct TDS since the NI not crossing the limit of Rs.180000/- for the FY 11-12(AY 12-13).  Am I right?

Waiting for other CCI tes reply.

As per details given, he does not crossing his limits i.e. 180,000/- hence tds will not be applicable.


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