Dear Sir,
we have paid salary to employee of Rs. 1500000 in one time for the year 2017-18 but we have not deduced or paid tds on salary now we want to paid the tds on 1500000/- how to pass entry in Tally?
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What are the Tds provision on salary
Replies (8)
full salary for the year 2017-18 paid in one cheque not recoverable
Dr Salary
Cr TDS Payable
Dr TDS Payable
Cr Bank
Cr TDS Payable
Dr TDS Payable
Cr Bank
Salary Ex 193125
TDS on salary 193125 is it correct?
depends on age.. if below 60 years then it comes to Rs 270375 without claiming any deduction.. if above 60 and below 80 then it comes Rs 267800 without claiming any deduction and if above 80 then Rs 257500without claiming any deduction
there is another way... ask that employee to file return n pay due tax n take a certificate from CA that all due tax had been paid on the amount of salary paid to him by himself... becoz of this no disallowance will be attracted on that salary expenditure.
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