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TDS u/s 192


sanjay jain (student)     12 October 2019

sanjay jain
student 
 2 likes  36 points

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salary of taxpayer is 500000 and he also furnish me details of his business income and interest income which amount to 10,00,000

so how
much TDS i should deduct u/s 192 ?

avater

Suresh Thiyagarajan (Student)     12 October 2019

Suresh Thiyagarajan
Student 
 252 likes  3961 points

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1. TDS will need to be deducted only for salary paid u/s 192. 
2. Other incomes are not your responsibility. TDS should be deducted for Rs. 5,00,000. 
Please correct me if the above solution has an alternative view. 

avater

sanjay jain (student)     12 October 2019

sanjay jain
student 
 2 likes  36 points

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Whether basic exemption limit should be deducted or not for calculating TDS on salary ?

avater

sabyasachi mukherjee   12 October 2019

sabyasachi mukherjee

 173 likes  4390 points

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MR.SANJAY BASIC EXEMPTION LIMIT IS RS.5 LACS FOR SENIOR CITIZEN.
THIS IS WHAT THE FINANCE BILL 2019 IS PLACED IN THE BUDGET.
PLS PLACE YOUR VIEWS IF ANYONE HAS ANY VIEWS.

avater

Suresh Thiyagarajan (Student)     12 October 2019

Suresh Thiyagarajan
Student 
 252 likes  3961 points

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1. Yes, basic exemption limits and deduction if any available to the person should also be deducted. 
2. For the FY 2019-20, the basic exemption limit is Rs. 250,000 but rebate is available up to Rs. 5,00,0000 if the persons' taxable income is below Rs. 500,000. 
3. Refer relevant provision u/s 192 and sec 15 for the FY 2019-20 before deducting TDS. 
Please correct me if the above solution has an alternative view. 

avater

Kapadia Pravin   17 October 2019

Kapadia Pravin

 928 likes  14348 points

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Sabyasachi , who said basic exemption limit is 5 lakhs for senior citizen ?? in Finance Bill 2019 ??? Toooooo amazing ??


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