Thread Started by #ajit.patwa

dear all
please guide me on the following issue
there is one employee who work with A ltd for the periode april 10 to july 10 @ salary rs. 35000 pm he join our organisation B ltd in august 10 to nov 10 @ salary rs. 45000 pm who is required to deduct tax at source on salary in our organisation his salary is 135000 and last employer 140000 no dedution from last employer. which form should we get from employer for his last salary rs. 140000 is it applicable to tds on his F&F please guide in detail
6th December 2010 From India, Pune
please note that we have to get form 16 from pervious employer , stating how much the tds has been deducted. Else we have to get declaratoin from the employee that he has been unemployeed from period..... To......period (if he gives declaration )than there is no problem.
Or we can opt the safest way considering that he has worked with us from 01april to 31 march ( salary per month @12=total amount) we can deduct the tds cosndierting the slab/ rate
6th December 2010 From India, Jamnagar
To comply with Income tax laws, it is employers responsibility to ensure that all employees tax liability is properly estimated and deduction has been made monthly based on such estimation.
Assume you have not complied with such provision, it will be a non compliance for which the disbursement officer is accountable.
Further, all employee salary information should be provided to Income tax deparment by the way of e filing of salary return with respect to employees who are under tax braket.
You have all detail of actual payment of salary paid from April to till date. Add OLD SALARY (PREVIOUS EMPLOYEER SALARY ) & PRESENTLY salary payable MONTH... TO MONTH ... (on the assumption that he will be on your rolls). Make tax computation and made the TDS. Take due care of their Investment declarations and Housing loan related exemption and deductions available under Income tax Act to arrive at net tax liability.
more at
6th December 2010 From India, Jamnagar
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