TDS on salary on payment basis at average rate of the FY

TDS 177 views 4 replies

Hi members,

I have attached a file of rough calculations of TDS on salaries.
Please study it and suggest the answer to the question (red font).

Thanks


Attached File : 3435790 20220113182057 tds on salary.xlsx downloaded: 14 times
Replies (4)

Attachment here. It is not appearing in the question!

Yes. it is a shortfall.

Okay sir. Thanks for reply.

Is this shortfall a TDS noncompliance?
If yes, how can it be solved? Since Mar salary date is in Apr, and TDS return don't allow date of payment out of FY date range.
And how can payment based TDS due system be setup for TDS returns?

Thanks. I think these are too much questions. :D

The TDS to be deducted by dividing the estimated tax liability of the employee for the financial year by the number of months of his employment under the particular employer. However, if you do not have PAN, TDS shall be deducted at the rate of 20% (excluding education cess and higher education cess).

Gross salary: 8,00,000

Net salary: 7,65,800

Standard deduction: NA


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