Hi
The company need not deduct any taxes as the net tax liability for the employee is NIL.
TDS u/s 192 after taking rebate u/s 87A
Hi, I am writing on behalf of a Pvt. Ltd. Company, with the following payment of Salary to an ordinary resident employee: Annual Salary: ₹360000 Professional Tax Deduction: ₹2400 Standard Deduction: ₹50000 Income from Other Sources: ₹165000 Deduction u/s 80TTA: ₹10000 Net Income: ₹462600 Tax Liability: ₹10630 Rebate u/s 87A: ₹10630 Tax Payable: NIL With the details as provided above, is the Pvt. Ltd. Company liable to deduct TDS u/s 192? (as Tax Payable (after taking rebate u/s 87A) by the employee is NIL)
Asked 3 years ago in Income Tax
- Company is not liable to deduct TDS u/s 192.
Dear Sir,
Hope you are doing well !!
No, the company is not liable to deduct tds u/s 192.
No the company is not liable to deduct any TDS given the above figure.
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Thank you
Dear Sir,
In reference to your query, based on the details provided, the company would not be required to deduct TDS u/s 192.
Please advise in case of any further clarification.
Thanks & Regards,
CA Aditya Dhanuka.
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