Can any one tell me what is the Rate of TDS on salay, what is the limit for deducting TDS on salary by the employer for male & female.
can we get benefit of Provident fund deducted on salary by employer & what aboutt his part.
Thanks - Satish
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TDS on salary & P.F
Replies (1)
| Originally posted by :Satish Sarang | ||
| " | Can any one tell me what is the Rate of TDS on salay, what is the limit for deducting TDS on salary by the employer for male & female. can we get benefit of Provident fund deducted on salary by employer & what aboutt his part. Thanks - Satish |
" |
Dear Satish,
TDS under section 192 shall attracted if the Income of an employee for the year concered is above the maximum amount which is not chargeble to tax.
Tax amount shall be as per slab rate for individual (For A.Y. 2009-10 Rs.1,50,000/- for Male and Rs. 1,80,000/- for female)
Contribution by employer toward Recognised P F shall be exempted in the hands of employee to the tune of 12% of Salary and ocntribution by emplyee shall be eligible for deduction under section 80C.
Regards
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