TDS on Staff allowance
Vineeth Vijayan (24 Points)
08 November 2024
Will TDS applicable on staff allowances per month for Rs 10000/-
2 Replies
Rama chary Rachakonda
(Master in Accounts & high court Advocate)
(8722 Points)
Replied 08 November 2024
The tax liability would depend on the employee's income tax slab and other factors.
To determine if TDS is applicable, consider the following:
1. Check if the allowance is taxable under the Income Tax Act.
2. Verify if the allowance is exempt from TDS.
3. Calculate the employee's tax liability based on their income tax slab.
4. If TDS is applicable, deduct the appropriate amount from the allowance.
sabyasachi mukherjee
(27870 Points)
Replied 09 November 2024
Calculate tax liability post actual figures
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