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Income Tax : In which scheme shall I get my TDS deducted? Old Vs New Tax Regime and impact of Budget 2023! This is most important question, on ...
Income Tax : Understand taxability of various salary components, allowances, perquisites, and retirement benefits in India. Learn about exempti...
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Income Tax : Explore the complexities of Income Tax on Salary Income. From the employer-employee relationship to the nuances of salary accrual ...
Corporate Law : Article explains TDS Rates for Financial year 2022-23 i.e. Assessment Year 2023-24 under Income Tax Act, 1961. Article contains TD...
Income Tax : SalaryTDS - Monthly Calculator helps in Precise calculations of monthly TDS values for each employee based on their annual income ...
Income Tax : BCAS made a Representation to CBDT regarding error in stating due date for Filing of Quarterly TDS Statements for Financial Year 2...
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Income Tax : We are giving below the TDS on salary calculator which is useful to every salaried employee and been made especially for West Beng...
Income Tax : ITAT Delhi dismisses Revenue's appeal against order of Commissioner of Income Tax (Appeals) regarding valuation of perquisites and...
Income Tax : Delhi High Court rules in favor of employee, stating the employer is responsible for TDS deposit. Petitioner exempted from tax lia...
Income Tax : ITAT Delhi's decision in the case of Sumaitri Bima Distributors Pvt. Ltd vs. ITO regarding non-applicability of S.40(a)(ia) for TD...
Income Tax : ITAT Delhi rules on tax refund adjustment. Employers not depositing withheld tax can't be set off against refunds owed to employee...
Income Tax : Section 192 provides deduction of tax ‘at the time of payment’. Admittedly there was no payment of the salary etc, which was f...
Income Tax : CBDT vide Circular No. 04/2023-Income Tax clarified that Each year, employer shall seek information from each of its employees r...
Income Tax : No.2/4/2022-E.IIB Government of India Ministry of Finance Department of Expenditure *** North Block, New Delhi. Dated the 30th Dec...
Income Tax : CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source ...
Income Tax : Furnishing of evidence of claims by employee for deduction of tax under section 192 for the FY 2021-22 and AY 2022-23. (For Assess...
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Section 192 provides deduction of tax ‘at the time of payment’. Admittedly there was no payment of the salary etc, which was foregone as per terms of settlement in mediation proceedings.
Explore Section 192 of the Income Tax Act, 1961, outlining TDS on Salary. Understand the definition of salary, permissible deductions, and the employers responsibility in tax deduction at source.
Supreme Court held that travel with a foreign leg is not covered under the provisions of section 10(5) of the Income Tax Act. Accordingly, TDS deductible on the same under section 192(1) of the Income Tax Act.
A salaried tax declaration is a document that an employee provides to their employer at the beginning of a financial year. It includes details about the employee’s income and investments, which the employer uses to calculate the employee’s tax liability and deduct the appropriate amount of tax from their salary each month.
No TDS deduction at source on Salary is contemplated under Section 192 in cases where a payment towards salary has accrued but is not made.
Section 192 of the Income Tax Act, 1961 is applicable to all employers who are responsible for deducting tax at source from the salaries of their employees. This section applies to all types of employees, including full-time, part-time, and contractual employees, as long as they are earning a salary.
CBDT vide Circular No. 04/2023-Income Tax clarified that Each year, employer shall seek information from each of its employees regarding their intended Tax Regime (Old or New under section 115BAC) and deduct TDS accordingly, If intimation is not made by an employee then his default tax regime is new Income Tax regime u/s 115BAC. CBDT […]
A Salaried Employee’s Tax Proof Certificate Form 16 to Auto Calculate and Auto Preparation Excel Based Master of Form 16 for the F.Y.2022-23 and A.Y.2023-24 Download from the attached file as Auto Calculate and Automatic Preparation Master of Form 16 Part B for the Financial Year 2022-23 and Assessment Year 2023-24(This Excel utility can prepare […]
alleged default towards non deduction of TDS from payments made to Guest faculties with reference to Section 194J of the Income Tax Act, 1961
HC held that, requirement is only for amount of TDS, and not amount eventually deposited with government after deduction and since Employer had deducted TDS from salary of assessee, TDS has to be allowed in intimation under Section 143(1) of Income Tax Act, 1961
