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Tds liablity on salary

NARENDRA SINGH POKHARNA (PROP.) (28 Points)

01 March 2015

If any person( Company, Firm, Prop. firm not havinf turnover of more than 100 lacs) paid salary to employees more than tax free imit, whether it is necessary to dedust tds on salary.Please clarify

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2 Replies

Mihir (Wealth Manager) (5293 Points)
Replied 01 March 2015

Yes, TDS will have to be deducted from salary.

Sanket (!..Live to Give..!) (16427 Points)
Replied 01 March 2015

TDS is solely the obligation of the employer but, if as an employee you are aware that there is a TDS default, then you may be held responsible too. If your total income exceeds the maximum amount not chargeable to tax and no TDS is being deducted by the employer, then you are under an obligation to pay tax through the advance tax route.

You should estimate your total income for the year that could comprise of salary, house property, interest income etc. Relevant deductions applicable to each source of income, on account of eligible investments, interest on housing loans, etc, can be considered to calculate the taxable income. On this amount, you should calculate the tax payable as per the applicable tax rates.