Dear Mates,
I'm a new startup of proprietorship firm (Registered Under Service Tax / GST) and want to know is TDS deduction applicable on my one & only employee?
Salary of the employee is INR 20,000 / Per Month.
Looking for help.
Thanks
From India, New Delhi
I'm a new startup of proprietorship firm (Registered Under Service Tax / GST) and want to know is TDS deduction applicable on my one & only employee?
Salary of the employee is INR 20,000 / Per Month.
Looking for help.
Thanks
From India, New Delhi
No the TDS u/s 192B cannot be deducted if the salary does not cross minimum chargeable to Tax that is 250000 in year. In case of 20000 per month this does not cross the limit. See Indian Labour Laws & Shram Suvidha Simplified - All Post
From India, Kolkata
180From India, Kolkata
@Labour Law Index, Thanks for your reply. So you mean to say of the barrier crosses of INR 2,50,000 then my proprietorship firm (Registered Under Service Tax / GST - Turnover 12 Lacs) has to deduct TDS, is that right?
Is yes, then how because I don't have TDS Certificate, etc.
Looking for your help. Thanks
From India, New Delhi
Is yes, then how because I don't have TDS Certificate, etc.
Looking for your help. Thanks
From India, New Delhi
Dear Vijay.
since you are newly startup proprietary firm having turnover 12 Lacs. Hence Tax audit u/s 44AB is not applicable to you. in absence of Tax audit you are not required to deduct TDS even tough the payment/salary is exceeding as specified in its threshold limit. However partnership firm & companies are exclude from this exemption. if any partnership firm or company is to made the payment exceeding in its threshold limit TDS must be deducted irrespective of tax audit.
Thanks & Regards
V SHAKYA
HR & Labour, Corporate Laws Advisor
From India, Agra
since you are newly startup proprietary firm having turnover 12 Lacs. Hence Tax audit u/s 44AB is not applicable to you. in absence of Tax audit you are not required to deduct TDS even tough the payment/salary is exceeding as specified in its threshold limit. However partnership firm & companies are exclude from this exemption. if any partnership firm or company is to made the payment exceeding in its threshold limit TDS must be deducted irrespective of tax audit.
Thanks & Regards
V SHAKYA
HR & Labour, Corporate Laws Advisor
From India, Agra
Dear Labour Law Index / Srinath Sai Ram / v shakya,
Thanks for your help. Can you please help with: https://www.citehr.com/585609-gst-se...ompulsory.html
Thanks
From India, New Delhi
Thanks for your help. Can you please help with: https://www.citehr.com/585609-gst-se...ompulsory.html
Thanks
From India, New Delhi
Find answers from people who have previously dealt with business and work issues similar to yours - Please Register and Log In to CiteHR and post your query.
Responsibilitie s of person who is responsible for deduction of TDS on salary.docx
Amendment in Section 192A of the IT Act, 1961- Instructions for deduction of TDS on withdrawal f.pdf