Do company deduct TDS after considering Rebate U/s 87A ?
Taxable Income- 350000
Tax on above- 5000
Less : Rebate 87A- 5000
TDS 192: NIL
OR
Taxable Income- 350000
Tax on above- 5000
TDS 192- 5000..
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TDS on salary and Rebate
Replies (2)
It is after 87A rebate.. However, please note that the rebate is only 2500 Rs.. So TDS shall be deducted at Rs 2600.(tax+cess)
Agreed.
The net tax liabilty is after deduction of the rebate.
The tax liability will be 2500/- + 4% cess i.e total 2600/-
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