Sir,
Ours is a an international school managed by a educational trust.
please let me know TDS to be deducted for our Principal drawing salary Rs. 1,25,000 per month
Thanks
Sayed
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TDS to be deducted
Replies (4)
yes TDS needs to be made monthly salary after consideration of the annual tax saving investment
what is the prevailing rate of income tax for Rs. 15 lakhs annual income
1. TDS will be applicable u/s 192 for the above salary payment made to the principal and rate would be according to the slab limits prescribed for such individual.
2. First total Income tax liability is to be determined and that should be divided by the number of remaining months during the year and accordingly, TDS should be deducted on a monthly basis.
Please correct me if the above solution has an alternative view.
Thank you so much
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