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Hi All,
I am working one company under contractual employee & My CTC
is 9000 per month & take home salary is 8100, they are
deducting 900/- as TDS per month on my salary, as i aware
that, no TDS will be deduct below 160000 per year, can you
plz post the answer or mail me on my mail id
(itsaarmaan@gmail.com) (itsaarmaan@way2sms.com) Thanks in
Advance to all.
Hope you have correct answer & you will post as soon as
possible.
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Answer / h.r. sreepada bhagi
As mentioned by you, you are working on contract basis.
Hence you are not an employee of the company you are working
for. hence you are paid Rs. 8100/- after TDS as Professional
Charges. What's being done by the company is correct. If you
don't want the Tax to be deducted you need to provide the
relevant certificate to the company (They may guide you).
Other way is, you need to claim refund of taxes deducted
nest year when you file your Income Tax Returns. You need to
get your PAN from Income tax Department, which I hope you
already have. In case you don't have, the company would
deduct tax at a higher rate.
For alternative take guidance from the
Finance/Accounts/Taxation Manager of the company you are
working for.
| Is This Answer Correct ? | 10 Yes | 2 No |
Answer / devatma nand verma
you have not a employee so TDS deducted by co. is correct
because a person provide consultancy its come into
professionals and the rate of TDS on it is 10% if u earn
more than Rs.20000 annualy.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / ca. karnav gandhi
You need to check out the TDS ward of you area and go there
and file an application in FORM No 13
here the link where u get d form
http://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/p
df/itr62Form13.pdf
The form is self explainatory
| Is This Answer Correct ? | 0 Yes | 4 No |
Rules for filling Income Tax return for a MNC?
In the Balance sheet of a company you see the following details, Liabilities: Provision for tax - AY 2008-09 RS 200000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 Assets: Advance Tax- AY 2008-09 RS 150000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 On 15-03-2011, the assessment order for AY2008-09 was received and the final tax liability was stated to be RS 250000. Pass the journal entry for the closing of the relevant accounts in the books for the AY 2008-09.
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