I worked for a company for 2 years until August 2016, and since September 2016, I have been working for another employer. I am wondering how TDS by my current employer will be deducted. I want to know the period of calculation for TDS and from which month TDS starts being deducted.
From India, Hyderabad
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From India, Hyderabad
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Understanding TDS Deduction Under Section 192 B
TDS under Section 192 B of the Income Tax is deducted in the following way:
1) Your entire yearly tax is determined.
2) The employer divides this by 12 and deducts this portion each month so that your entire tax is deducted over the year.
In the event of a change of employment, your new employer will take all these details and calculate the tax for the entire year, considering the salary from both the old and new employers. They will then deduct the tax already deducted. The balance will be divided by the remaining months of the financial year and subsequently deducted each month in the remaining year.
You need to provide all the details to your new employer. Additionally, you need to provide them with your Form 26AS from the income tax site. This form contains details of your TDS already deducted. Visit the site below for more information.
From India, Kolkata
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180TDS under Section 192 B of the Income Tax is deducted in the following way:
1) Your entire yearly tax is determined.
2) The employer divides this by 12 and deducts this portion each month so that your entire tax is deducted over the year.
In the event of a change of employment, your new employer will take all these details and calculate the tax for the entire year, considering the salary from both the old and new employers. They will then deduct the tax already deducted. The balance will be divided by the remaining months of the financial year and subsequently deducted each month in the remaining year.
You need to provide all the details to your new employer. Additionally, you need to provide them with your Form 26AS from the income tax site. This form contains details of your TDS already deducted. Visit the site below for more information.
From India, Kolkata
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