CBDT has published detail instruction PDF file for the guidance on TDS on Salary.
- Circular No.1/2017: Dated – 02-01-2017
- For Financial Year: 2016-17
CBDT has released the e book on TDS amended up to Finance Act 2010. You can download it totally free because it made especially for taxpayers. You don’t need to buy from anywhere. Find the link given below in PDF format. Yes, we know it is up to amendment of finance act 2010, but it contains very useful information related to TDS on salary which we can use up to today. NO doubt, the rates of TDS and income tax slabs has changed but almost rules are same. So it is very useful for those who don’t want to purchase latest books from the book stores. We advise our readers that they must read the book at least one time.
What is Salary?
After considering the fact that when salary became due or payable, salary will be calculated from April to March or March to February. However, in government sector job, salary will be calculated from March to Febrauary. Salary calculation is difficult when employee receipt allowance, perquisites, HRA, advance salary, arrears of salary, profit in lieu of salary, leave salary, travel concession, etc. So it formsvarious parts to calculate aggregate or gross salary. The task become more difficult when we talk about to deduct TDS after considering all the parts of salary. So this ebook on TDS can solve all of your queries.
Salary received by partner of firm will not be treated as salary as it comes under income from Business or Profession.
About ebook of TDS on Salary
You can find the following topics in detail from this e-book.
- Advance salary
- Arrears of salary
- Credit for TDS
- Deposit of TDS
- Document required by employer to compute salary income of employee
- Electronic Payment of Tax
- Employee to furnish his PAN
- Failure to deduct/Deposit TDS or issue TDS certificate or file quarterly statements
- Fee or commission
- Filing of returns on computer readable medium
- Issue of TDS certificate
- Meaning of salary
- Other allowances of salaries
- Place of accrual of salary
- Procession of TDS Statement
- Profits in lieu of salary
- Quarterly statement of TDS
- Rate of exchange for the purpose of TDS on income payable in foreign currency
- Refund of TDS
- Salary of a Non-Resident
- TAS on tax free salary
- TDS at Nil or Lower rate
- TDS certificate for pension drawn
- TDS on payment from approved superannuation fund
- TDS on perquisites may be paid by the employer at his option
- TDS on provident fund contributions.
- TDS on salaries in arrears/advance
- When Tax to be deducted?
- Who is liable to deduct TDS from salary?
Sec. 192 of the income tax act tells about the TDS on salaries, which define the responsibilities, duties, rights and other guidance for deductor and deductee. You can also find the answer of the most complicate and common question of the deductee i.e. Where a person is working under more than one employer or move from a previous employer to a new employers then what should he do?
Hope you will get benefit after downloading the ebook on TDS. But if would like to download new ebook on TDS on salary as amended up to Finance Act 2012. Please bookmark our page or subscribe your email or like our facebook page to get immediate alert on it.