TDS Salary

Mr.Ulaganathan. Relax!!!.If salary of an employee exceeds the maximum amount not chargeable to tax and such employee discloses investments or other expenditures which qualify for chapter VI A deductions, which inturn can bring his tax liability to NIL, then there is no need to deduct TDS for the employee.

Depending upon the information provided by you, i dont think so, that you need to deduct TDS for your employee as he can show amounts upto Rs.100000 which qualify for 80C deductions.Moreover, he wont be earning huge salary to be liable for TDS in this 2 months even after showing such huge deductions.

I would like to registr as to know more and put my own quiries into the subject

Salary Income - 80C =if more than 1.1 Lakh deduct TDS other wise nil TDS

Business income+salary( Feb & March)-deductions=tax is applicable.

I think in this case there is no need to deduct tax if the salary does not exceed the maximum exemption limit for the two months & also the employee has make the investments in the 80c hence i think there is not much income provided that the business income for the April-Jan is as you said is not much or nil.

If and only if employee chooses to furnish the details of other income to his employer in writing, the employer can take such income into consideration for the purpose of TDS u/s 192, otherwise employer is not liable for TDS in respect of such income.

I joined company on Ist Apr' 07, and as of now I am not confirmed by the very organization. As per the joining letter which speaks about six month probation period and can also be extended upto further six months, I fall under the category of the further six months. As of now I earn 15k per month every month, and I don't fall under any deductions. My finance manager asks me about my LIC details and informed me that he will deduct TDS from my salary.

My question is whether I am eligible for TDS in the persent context, given that I am not yet confirmed then why should I pay TDS for? Please guide.

Hi I have started deducting the TDS for the employees from April onwards and they are protesting what does the rule says

@ harsh. . .

 

hiii c u hv earned a salary contributing 2wards the Total Income. . .sp if your Total Income is more than the tax exemption limit than you have to deduct TDS , no matter that you are permanent or nt in an organisation. ...as u r earning the Income from wtever source it is

 

also u hv to show all other Incomes u hv n the investment u made under sec. 80C or others.  ..