Hello Seniors,
I need your help in resolving one issues.I am working with a pvt ltd firm in Delhi as Asst. Manager HR. one of our employee is getting 3 Lacs annual salary. My company has the provision to deduct TDS on every month since starting to avoid the interest charges etc at the end of the financial year. Employee had submitted the investment details as rent allowance 7000/month, PF contribution-approx 9000, conveyance allowance-9600, medical allowance -15000 and projected investment details of approx 20000.
My question from you is, do we need to consider projected investment details during TDS calculation. 2nd thing, do we need to deduct TDS of approx 704 Rs. every month thats what is being deducted from employees salary as of now as instructed by our C.A.. If yes to deduct TDS then how, calculation please. 3rd and last, do we really need to deduct TDS in salary of 3 Lac/ annum. Being an HR can't we adjust his 1 lac salary to avoid deducting TDS.
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Look forward for your earliest response.
With Thanks
Barkha
I need your help in resolving one issues.I am working with a pvt ltd firm in Delhi as Asst. Manager HR. one of our employee is getting 3 Lacs annual salary. My company has the provision to deduct TDS on every month since starting to avoid the interest charges etc at the end of the financial year. Employee had submitted the investment details as rent allowance 7000/month, PF contribution-approx 9000, conveyance allowance-9600, medical allowance -15000 and projected investment details of approx 20000.
My question from you is, do we need to consider projected investment details during TDS calculation. 2nd thing, do we need to deduct TDS of approx 704 Rs. every month thats what is being deducted from employees salary as of now as instructed by our C.A.. If yes to deduct TDS then how, calculation please. 3rd and last, do we really need to deduct TDS in salary of 3 Lac/ annum. Being an HR can't we adjust his 1 lac salary to avoid deducting TDS.
Please send your replies to [Login to view]
Look forward for your earliest response.
With Thanks
Barkha