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TDS on salary
i m paying 25000 monthly salary to x. am. I suppose to deduct TDS on the Said amount yearly total payment 300,000
Replies (5)
Quick Summary
No TDS is require to be deducted under section 192 for AY 2020-2021.
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
In your case, no income tax liability arises. So no TDS is to be deducted.
Regards
On yearly payment of 3 lakhs, employee gets standard deduction of 50000/- So income falls to 250000/- and hence no TDS on salary.
Not needed. If employee does not provide PAN / Aadhar No. then TDS @ 20.80%
There is no need to deduct tax.
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