Now,i got some useful information from you. I have query regarding TDS...If we deduct PF , then can we deduct TDS ? According to my knowledge the TDS is deducted for contractors or professional. Could you please clear my query ?
12th June 2009 From India, Hyderabad
deducting tds is not for contractors and professionals only
it is obligatory for every employer to deduct tds and deposit monthly for all those individuals who come into tax bracket
in the beginning of the year you should obtain data from the individuals on savings proposed and any other deduction eligible .
U must compute the anticipated tax and deduct 1/12 or 1/10 of it and deposit to it. It will get reflected in individual it web page.
Incidentally not recovering is a crime and punishable.
Pl talk to the chartered accountant of your company for help.
11th January 2013 From India, Indore