Actually I deduct TDS on salary
so I need to know ,
Gross salary - Standard deduction - 80 deduction
after that my taxable income is less than 3,50,000
so after tax calculate ,give Under 87 Rebate - 2500
So tax liability is nill ,so I need to deduct TDS on salary?
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TDS on Salary
Replies (5)
| Originally posted by : Aman Kumar | ||
 |
Actually I deduct TDS on salary so I need to know ,Gross salary - Standard deduction - 80 deduction after that my taxable income is less than 3,50,000so after tax calculate ,give Under 87 Rebate - 2500So tax liability is nill ,so I need to deduct TDS on salary? |  |
No.
In Case Gross Salary is more than 5 Lakh,but Less Standard Deduction & 80 deduction after that taxable amount is less than 3,50,000 ,so Rebate 87A applicable or Not?
Applicable
87A will be applicable
In the present case,
There is no need to deduct TDS by employer as Total income does not exceed BEL and
Employee can claim 87A rebate as Total income after deductions is less than 3.5L
There is no need to deduct TDS by employer as Total income does not exceed BEL and
Employee can claim 87A rebate as Total income after deductions is less than 3.5L
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