tds on salary

Generate 100s of Form 16 using simple tool by H&R Block

Income Tax - Every company is mandated to send Form 16 to all your employees.The FORM 16 GENERATOR is a tool which simplifies an employer’s efforts to generate Form 16s for all their employees. ...

Read More

Collect Form 12BB from employees -Recent changes in Salary return-Form 24Q

Income Tax - CBDT had in its Finance Act, 2015 had introduced a new section 192(2D) of the Income-tax Act, (‘the IT Act’) wherein the person responsible for making payment of salary (employer) was obliged to collect the necessary evidence or proof in Form 12BB to allow any claim for any deduction and/or tax saving investments....

Read More

TDS deductible on Salary Paid to Partners?

Income Tax - o Employer Employee Relationship exist between a partnership firm and partners so TDS is not required to be deducted on Partner’s Remuneration....

Read More

Tax Treatment of Income from Salary in Brief

Income Tax - I. Income under the head Salaries 1.1 Salary is defined to include: a) Wages b) Annuity c) Pension d) Gratuity e) Fees, Commission, Perquisites, Profits in lieu of or in addition to Salary or Wages f) Advance of Salary g) Leave Encashment h) Annual accretion to the balance of Recognized Provident Fund i) Transferred balance […]...

Read More

Income tax Declaration by Employees for FY 2016-17

Income Tax - According to the income tax guidelines, income tax is deductible annually for each financial year commencing from 1st of April and ending on the 31st March. The responsibility of the employer has been affixed by the Income tax Department to deduct income tax from the salary of employees monthly on proportionate basis ...

Read More

BCAS represents on wrong TDS filing return due date in recent Circular

Income Tax - BCAS made a Representation to CBDT regarding error in stating due date for Filing of Quarterly TDS Statements for Financial Year 2016-2017 in Circular 1/2017. ...

Read More

Quarterly SMS on Deposits of TDS to salaried employees

Income Tax - Income Tax Department to directly communicate deposit of tax deducted, through SMS alerts to salaried taxpayers, at the end of every quarter. In case of a mismatch, they can contact their deductor for necessary correction....

Read More

TDS on Salary Calculator with Form 16, Form 10E and HRA Calculator

Income Tax - We are giving below the TDS on salary calculator which is useful to every salaried employee and been made especially for West Bengal Police Employees. This calculator has following feature. 1. Auto Fill Form 16. 2. Autocalculation of TDS on Salary. 3. Autofill of Form 10E alongwith Annexures. 4. HRA Calculator...

Read More

TDS on Salary Paid in Foreign Currency

Income Tax - For the purposes of deduction of tax on salary payable in foreign currency, the value in rupees of such salary shall be calculated at the prescribed rate of exchange....

Read More

Companies deducts TDS but not pay on time

Income Tax - The survey was carried out to verify whether tax was deducted under the provisions of tax deducted at source (TDS). While examining documents, the department found out that in several cases, companies have defaulted in transferring TDS to the I-T dep...

Read More

Amount Deducted for Notice Period is not Taxable as Salary

Shri Nandinho Rebello Vs DCIT (ITAT Ahmedabad) - It is pertinent to note that the assessee has actually received the salary from his previous employers after deducting the notice period as per the job agreement with them. Therefore, in our considered view, the actual salary received by the assessee is only taxable....

Read More

LTC to Public Bank Employees for Travelling Abroad is subject to TDS

Syndicate.Bank Vs The Assistant. Commissioner of Income-tax (ITAT Bangalore) - Provisions of section 10(5) of were introduced in order to motivate the employees and also to encourage tourism in India and, therefore, the reimbursement of LTC/LFC was exempted, but, there was no intention of the Legislature to allow the employees to travel abroad under the garb of benefit of LTC ...

Read More

As Advance tax not payable on salary Income so interest U/s. 234B, 234C cannot be levied

Ian Peter Morris vs. ACIT (Supreme Court of India) - In cases where receipt is by way of salary, deductions under Section 192 of the Act is required to be made. No question of payment of advance tax under Part 'C' of Chapter VII of the Act can arise in cases of receipt by way of 'salary'....

Read More

TDS not deductible on Tips collected by Hotels & Paid to Staff: SC

ITC Ltd. Gurgaon Vs Commissioner of Income-tax (TDS) (Supreme Court of India) - The assessees are engaged in the business of owning, operating, and managing hotels. Surveys conducted at the business premises of the assessees allegedly revealed that the assessees had been paying tips to its employees but not deducting taxes thereon....

Read More

Non deduction of TDS on Medical Reimbursement

The Assistant Commissioner of Income Tax (TDS) Vs M/s. SAP Labs India Pvt. Ltd. (ITAT Bangalore) - conditions for grant of exemption up to Rs.15,000 per employee towards medical reimbursement paid by the Assessee satisfies conditions contemplated by the proviso (v) to Sec.1 7(2) of the Act, can the AO deny the relief under the proviso (v) to Sec.17(2) of the Act? ...

Read More

Due date to furnish form 16 (Salary Certificate) extended to 15th June

Notification No. 42/2017 - (02/06/2017) - Due date of furnishing Annually Form 16 (Salary Certificate) is extended from 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted to 15th day of June....

Read More

CBDT rectifies mistakes in Circular related to TDS on Salary

Corrigendum to Circular No. 1/2017 - (24/01/2017) - Corrigendum to Circular No. 1/2017 dated 02.01.2017 on TDS under section 192 of Income-tax Act, 1961. In para 3.6.1 in clause (a) below the table at page 4 of the captioned Circular, the words -3 years appearing in line 1 may be read as 5 years....

Read More

All about TDS on Salary for Financial Year 2016-17

Circular No. 01/2017-Income Tax - (02/01/2017) - Post deals with TDS on Salary for Financial Year 2016-17 / Assessment Year 2017-18 & explains how much TDS to be deducted and valuation of perquisites, Allowances etc....

Read More

TDS on Salary for Assessment Year 2016-17

Circular No. 20/2015-Income Tax - (02/12/2015) - CIRCULAR NO : 20/2015 The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head Salaries during the financial year 2015-16 and explains certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules)....

Read More

TDS on Salary for Assessment Year 2015-16

Circular No. 17/2014 - Income Tax - (10/12/2014) - CIRCULAR NO : 17/2014 Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head 'Salaries' during the financial year 2014-15 and explains certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules). Circular helps employ...

Read More

Recent Posts in "tds on salary"

Due date to furnish form 16 (Salary Certificate) extended to 15th June

Notification No. 42/2017 (02/06/2017)

Due date of furnishing Annually Form 16 (Salary Certificate) is extended from 31st day of May of the financial year immediately following the financial year in which the income was paid and tax deducted to 15th day of June....

Read More

Generate 100s of Form 16 using simple tool by H&R Block

Every company is mandated to send Form 16 to all your employees.The FORM 16 GENERATOR is a tool which simplifies an employer’s efforts to generate Form 16s for all their employees. ...

Read More
Posted Under: Income Tax | ,

Amount Deducted for Notice Period is not Taxable as Salary

Shri Nandinho Rebello Vs DCIT (ITAT Ahmedabad)

It is pertinent to note that the assessee has actually received the salary from his previous employers after deducting the notice period as per the job agreement with them. Therefore, in our considered view, the actual salary received by the assessee is only taxable....

Read More

LTC to Public Bank Employees for Travelling Abroad is subject to TDS

Syndicate.Bank Vs The Assistant. Commissioner of Income-tax (ITAT Bangalore)

Provisions of section 10(5) of were introduced in order to motivate the employees and also to encourage tourism in India and, therefore, the reimbursement of LTC/LFC was exempted, but, there was no intention of the Legislature to allow the employees to travel abroad under the garb of benefit of LTC available by virtue of s.10(5) […...

Read More

Collect Form 12BB from employees -Recent changes in Salary return-Form 24Q

CBDT had in its Finance Act, 2015 had introduced a new section 192(2D) of the Income-tax Act, (‘the IT Act’) wherein the person responsible for making payment of salary (employer) was obliged to collect the necessary evidence or proof in Form 12BB to allow any claim for any deduction and/or tax saving investments....

Read More

As Advance tax not payable on salary Income so interest U/s. 234B, 234C cannot be levied

Ian Peter Morris vs. ACIT (Supreme Court of India)

In cases where receipt is by way of salary, deductions under Section 192 of the Act is required to be made. No question of payment of advance tax under Part 'C' of Chapter VII of the Act can arise in cases of receipt by way of 'salary'....

Read More

TDS deductible on Salary Paid to Partners?

o Employer Employee Relationship exist between a partnership firm and partners so TDS is not required to be deducted on Partner’s Remuneration....

Read More
Posted Under: Income Tax |

CBDT rectifies mistakes in Circular related to TDS on Salary

Corrigendum to Circular No. 1/2017 (24/01/2017)

Corrigendum to Circular No. 1/2017 dated 02.01.2017 on TDS under section 192 of Income-tax Act, 1961. In para 3.6.1 in clause (a) below the table at page 4 of the captioned Circular, the words -3 years appearing in line 1 may be read as 5 years....

Read More

BCAS represents on wrong TDS filing return due date in recent Circular

BCAS made a Representation to CBDT regarding error in stating due date for Filing of Quarterly TDS Statements for Financial Year 2016-2017 in Circular 1/2017. ...

Read More
Posted Under: Income Tax |

All about TDS on Salary for Financial Year 2016-17

Circular No. 01/2017-Income Tax (02/01/2017)

Post deals with TDS on Salary for Financial Year 2016-17 / Assessment Year 2017-18 & explains how much TDS to be deducted and valuation of perquisites, Allowances etc....

Read More
Page 1 of 512345

Browse All Categories

CA, CS, CMA (3,454)
Company Law (3,348)
Custom Duty (6,582)
DGFT (3,419)
Excise Duty (4,040)
Fema / RBI (3,237)
Finance (3,416)
Income Tax (24,916)
SEBI (2,722)
Service Tax (3,278)

Search Posts by Date

August 2017
M T W T F S S
« Jul    
 123456
78910111213
14151617181920
21222324252627
28293031