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Jul 31, 2019 · Section 192 of income tax act, deals with tax deducted at source (TDS) on salary. Your employer will deduct TDS from the salary payable to you. Read here to know more.
Jul 13, 2019 · Section 192 says that every person who is responsible for paying any income chargeable under the head ‘Salary’ is required to deduct TDS. Thus, provisions of section 192 apply only if the following conditions are satisfied –
Feb 15, 2024 · Section 192 deals with the TDS on salary. It mandates every employer to deduct TDS on salary payments in case the salary of the employee exceeds the basic exemption limit.
TDS on salary falls under the purview of Section 192 TDS. Under this tax provision, employers are entitled to deduct tax at source on the salary amount payable to an employee.
Family Pension is chargeable to tax under the head “Income from other sources” and not under the head “Salaries”. Therefore, provisions of section 192 of the Act are not applicable. Hence, DDOs are not required to deduct TDS on family pension paid to person.
Feb 8, 2024 · What is Section 192? The Income Tax Act of 1961 addresses Tax Deducted at Source, TDS on salary in Section 192. It requires that income tax be withheld from the assessee's estimated income under the head salaries for everyone accountable for paying any chargeable income under that heading.
Jul 4, 2021 · TDS u/s 192 has to be deducted at the average of income tax computed on the basis of rates in force during the financial year. The total tax to be deducted on the estimated income of the employee for the relevant financial year is divided by the number of months of his employment.
Jul 27, 2018 · TDS U/s 192 has to be deducted at the average of income tax computed on the basis of rates in force during the financial year. The total tax to be deducted on the estimated income of the employee for the relevant financial year is divided the number of months of his employment.
Dec 5, 2023 · IT Department require employers to submit income tax from employee pay monthly. Learn about TDS on salaries, applicability, rate, due dates, and returns.
May 10, 2023 · If you are receiving any income in the form of Salary under section 192 and if the amount paid exceeds the Basic Exemption Limit, every Employer is required to withhold TDS at the time of payment of Salary and the tax must be deducted at the applicable average income tax rate.
