There is only 1 employee in the company. Considering all investment proofs and exemptions, no TDS is deductible on salary. Do we still need to file it in Form 24Q.
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TDS on Salary (below exemption limit)
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Not required
In case your estimated salary is not more than the basic exemption limit, TDS will not be deducted.
When is TDS Deducted under section 192
| Age | Minimum income |
|---|---|
| Resident in India below 60 years | Rs 2.5 lakh |
| Senior Citizens between 60 years and below 80 years | Rs 3 lakh |
Not applicable
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