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.
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.
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 |
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