Dear Friends, I need a suggestion. This is Dev, and I'm working in a private company for the past 3 years. My salary is 18,000 INR per month, but the company does not provide any salary slip, and the salary comes in cash, also not on a fixed date. My company accountant is forcing me to pay tax (TDS). Am I eligible to pay any kind of tax? Out of four, I'm one of the earning members in my family. Also, I'm a loan holder from the bank for 1 lakh 50 thousand, and approximately a lakh loan from a private society. I can't afford even a single deduction in my salary. Please suggest. I need help.
Thanks & Regards,
Dev
From India, New Delhi
Acknowledge(0)
Amend(0)
Thanks & Regards,
Dev
From India, New Delhi
Acknowledge(0)Amend(0)
As per your provided salary, i.e., ₹18,000 PM, it comes to an annual salary of ₹216,000. Within this, the standard deduction is ₹200,000 as per the IT Act. So, you have an excess salary of ₹16,000 to pay tax. Within this, also, per month, ₹3,000 house rent allowance is exempted, so you are not subject to TDS. You do not need to pay any tax in any manner, even if your salary is credited by cash/cheque. Do not worry and convey the same information to your employer if they are not satisfied with the above explanation. Please feel free to speak to me.
Hope you have cleared your doubts.
Thanks,
Lakshminaryana
[Phone Number Removed For Privacy Reasons]
From India, Hyderabad
Acknowledge(1)Amend(0)
38Hope you have cleared your doubts.
Thanks,
Lakshminaryana
[Phone Number Removed For Privacy Reasons]
From India, Hyderabad
Acknowledge(1)Amend(0)
Even considering your total income to be Rs. 2,16,000, it is totally exempted for the F.Y. 2013-14. Under Section 87A, you get a benefit of Rs. 2,000 in tax; hence, on Rs. 16,000 tax liability, it is Rs. 1,600 less Rs. 2,000. No tax, do not worry.
It is surprising that even your company is paying salary in cash and intends to deduct tax. Somewhere something must be going wrong.
Regards,
Ramakant
From India, Pune
Acknowledge(1)Amend(0)
It is surprising that even your company is paying salary in cash and intends to deduct tax. Somewhere something must be going wrong.
Regards,
Ramakant
From India, Pune
Acknowledge(1)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
PT,ESIC,TDS,FBT ,S[1][1].Tax Calculator.xls
Tax Exemption (SUPERB).doc
P. TAX EXEMPTION NOTIFICATION - CHHATTISGARH.pd f