An individual having eligible business u/s44AD is paying 30000 salary p.m by Cash to an employee. But, total turnover of business is below 1crore. So, does he have to deduct TDS on salary paid? If yes, should he consider rebate u/s 87A for TDS calculation (as total income of such employee from all sources is less than 5 lakhs, and thereby making tax liability of such employee to zero..!) and doesn't it make the whole process redundant?
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TDS on salary paid by an 44ad assessee
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Quick Summary
Therefore, assessee declaring income u/s 44AD, 44ADA or 44AE is liable to deduct TDS. e.g. Every 'person' is required to deduct TDS u/s 192 if the estimated salary exceeds the maximum amount not chargeable to tax. Any individual paying salary of Rs. ... 1 crore in case of business
| Originally posted by : debora M | ||
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Therefore, assessee declaring income u/s 44AD, 44ADA or 44AE is liable to deduct TDS. e.g. Every 'person' is required to deduct TDS u/s 192 if the estimated salary exceeds the maximum amount not chargeable to tax. Any individual paying salary of Rs. ... 1 crore in case of business |  |
My query is regarding consideration of rebate under 87A before deduction of TDS by the employer. If considered, then could you please show the amount of TDS to be deducted every month?
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