Regarding Tax Paying Details - Xls Download - CiteHR
Jeevarathnam
Sr. Manager Hr/admin
Aa_somani
Accounts & Finance
+1 Other

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Hi Professionals
I am feeba and i am newly appointed in a IT company where they are not deducting Tax from there employee.
My MD asked me to pay tax and deduct the tax from all employees and also to provide form 16 to the eligible employees.
Please help me how should i calculate, what i should ask my employees to produce
where to pay and how many times i can pay,
how should i deduct from there salary
Salary ranges from 5000 to 25000 per month in my company
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HI Feeba.
I believe as already I answered for your query regarding TDS. For deducting taxes there are various components to be considered.
First tell me from which city are you? Do you have any PF benefit? if so what is the contribution.
If you plan the salary structure wisely I am sure upto the total salary of 23000/- there won't be any TDS. For above 23000/- once again it depends on the savings and exemptions.
If need more details share me your id so that I can share few attachments.
HI Jeevarathnam
Thanks for your reply,
we are located at Hyderabad
Now a days every IT company is asking Form 16 from the new joining. so Employee in our company facing big problem to shift in to other companies.
We have employees working for 5000 to 25000.
I dont know how to proceed with this issue. we finally planned to provide form 16 for the eligible employees.
We are providing HRA, Basic, conveyance, Medical and special allowance and we are deduction Professional tax from our employees
We are not providing PF because there are only 17 employees in our company.
Please help me and tell me what to do
Hi Feeba
Even the total strength is 17 Registration with PF is mandatory. Above 9 employees PF is mandatory for IT Industry.
HRA, Medical Allowance & Conveyance shall be exempted as per the IT exemptions. Rest you should treat as income from salaries. If you share your ID I can share the IT calculations
Hi Jeevarathnam
Thank you for your Reply
I agree with you but my MD said we need 2 more projects then we will look after PF
So Is there any thing we can go with Form 16 without PF
My ID:
PF & Form 16 are entirely different. PF is just to consider the savings
Hello Feeba I am enclosing one format that can calculate TDS and you can deduct accordingly.

Attached Files
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File Type: xls form 16.xls (59.0 KB, 61 views)
File Type: xls Computation A.Y. 13-14.xls (45.0 KB, 56 views)

Hi Somani
Thank you for your attachments and One more question
Our Company got TAN and PAN Numbers
1.Should i deduct the TDS from Employees salary every month
2.Should i submit this Form 16 to mu auditor
3. Is there any Tax paid by the Employer annually
Please let me know
Hello
Our Company got TAN and PAN Numbers
First of all its good that you are having TAN
1. Should i deduct the TDS from Employees salary every month
Yes for salary you have to deduct TDS on monthly basis. There is Interest and penalty provision so please always take care of payment and filling of return in time.
2. Should i submit this Form 16 to my auditor
No you have to issue form 16 and have to to give to employee whose TDS has been deducted.
3. Is there any Tax paid by the Employer annually
No, itís on monthly basis.
Thanks and regards
Somani sir gud evening for ay 14-15 in income tax nothing has changed tax slab is same as ay 13-14. But i read that some 2000 tax credit is introduced only if payer falls in first slab i.e 2 to 5 lakh. Please clarify this 2000 rs credit issue thank you.
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