Tax Slabs For Contract Employees

mpgupta Started The Discussion:

My wife is a contract employee at a firm and she gets paid by the hour. Can the tax gurus on this forum please tell me what will be her tax liability and what will be the TDS? Currently her employer deducts a flat 12% TDS. Is that correct? Her projected annual payout, although variable, will fall around 2.4 Lacs.

Your inputs will be highly appreciated

I feel your wife is working as retainer. For retainer TDS is applicable. The company is doing right by deducting TDS. regards Amit


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