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I have a business turnover of Rs.35 lacks.I am paying salary to my employee of Rs. 6 lakhs.?
How much TDS i have to deduct on salary of my employee?
6 Answers
- Anonymous1 decade agoFavorite Answer
as your turnover does not exceed 40lacs so you are not subject to tax audit , so assuming that your business is a proprietorship one you don't have to deduct tds.
- 1 decade ago
In case you are a professional like architect, doctor etc. then you are required to deduct tax.
In case you are in business of trading or manufacturing then you are not required to deduct tax as TDS provisions apply in case your annual turnover is more then 40 Lakh.
Source(s): Income tax act - Anonymous1 decade ago
Consult a Good Auditor or Chartered Accountant
- 5 years ago
Diesel is the best option for you.There are many diesel cars like polo,figo,beat,punto,ritz& swift.Dear the beat and figo are gud cars i agree.But both these cars wont give you perfromace,comfort and mileage than its competitor swift LDi.The swift is an unmatched one in its class with the competitior.The resale value of the swift is very high and still an used swift diesel cost just near to the price of an ex-showroom car.So i prefer the swift for you,once you own it,you wont be disappointed.
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- JssLv 71 decade ago
For how the TDS on salary is figured out, read http://mytaxes.in/index.php?topic=12.0
- 1 decade ago
TDS is not required to be deducted if you are liable for tax audit.
Only Individuals who are liable for tax audit are required to deduct TDS
For more contact me at agarwalapurav@yahoo.co.in
Source(s): CA