TDS on salary

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143 Points Posted on 27 January 2020
i m paying 25000 monthly salary to x. am. I suppose to deduct TDS on the Said amount yearly total payment 300,000
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On 27 January 2020 at 17:52 Report
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Quick Summary
This discussion clarifies the rules around deducting Tax Deducted at Source (TDS) on salary payments. For the financial year 2020-2021, if an employee's annual salary is £300,000, no TDS is typically required. This is because after the standard deduction of £50,000, the taxable income falls below the threshold, meaning no income tax liability arises for the employee.

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Chartered Accountant
716 Points Posted on 27 January 2020

No TDS is require to be deducted under section 192 for AY 2020-2021.

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On 27 January 2020 at 18:15
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Practicing in GST and MSME
1985 Points Posted on 27 January 2020
TDS is to be deducted on estimated amount of taxable income of employee.
In your case, no income tax liability arises. So no TDS is to be deducted.
Regards
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On 27 January 2020 at 18:22
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17269 Points Posted on 27 January 2020
On yearly payment of 3 lakhs, employee gets standard deduction of 50000/- So income falls to 250000/- and hence no TDS on salary.
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On 27 January 2020 at 18:23
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CA
428 Points Posted on 27 January 2020
Not needed. If employee does not provide PAN / Aadhar No. then TDS @ 20.80%
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On 27 January 2020 at 19:48
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38 Points Posted on 28 January 2020
There is no need to deduct tax.
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On 28 January 2020 at 06:27

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