#section 192

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TDS on Salaries – Procedure to deduct TDS – Compliances

TDS on Salaries – Procedure to deduct TDS – Compliances

CA C. Maheshwar Reddy

TDS on Salaries – Section 192- Procedure to deduct TDS – Compliance with Income Tax Act and rules there under

Back Ground: Under Section 192, the employer is required to deduct income-tax while making the payment of salary during financial year to the employees, at the rate of the income-tax applicable to the individuals. For deduction of Tax at source (TDS), the tax has to…

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TDS on Salary - Section 192 - FAQ & Important Circulars

TDS on Salary – Section 192 – FAQ & Important Circulars

Questions and Answers on Section 192

Q.1. Who is responsible to deduct tax on Salary?

A.1. All persons paying salary are responsible to deduct TDS on income chargeable under the head “Salary”. In other words none of the payer of Salary is excluded; Individual, HUF, Partnership firms, companies, cooperative societies, Trust and other artificial judicial persons have to deduct TDS on Salary. (more…

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Don't Take TDS Lightly

Don’t Take TDS Lightly

CA Siddhi Rajani

Nowadays delay in payment of TDS and in TDS return Filing makes an assessee liable to Late Payment Interest, Late Payment Penalty, Late Filing Fees, Late Filing Penalty and Further makes him liable to prosecution under the provision of the Income Tax Act, 1961. In this article we are discussing some of these provisions which makes it clear that TDS cannot be taken lightly and we…

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How to Calculate TDS on Salary with Examples

Every Employer who is paying salary to his employee which is more then maximum amount exempt from tax has to deduct TDS on such Salaries Under section 192 of the Income tax Act,1961. While deducting TDS employers are faced with following questions :-

1.…

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TDS on Salary FY 2013-14 / AY 2014-15

Provisions of TDS on Salary as applicable on Income from Salary for Financial year 2013-14 / Assessment year 2014-15. This includes how to calculate TDS on Salary for Financial year 2013-14 and taxability of various components of Salary, Eligible…

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