TDS rate on Salaries A.Y. 2011-12 or F.Y. 2010-11 (Under Sec. 192)


tds Tax Deducted at source on Salaries   

  • Taxable point

Payment or Due Entry (Accounting) whichever is earlier

  •     Applicability

Only when the employee has Taxable Salary (Refer this for slab rates http://www.thetaxinfo.com/2012/04/income-tax-rates-financial-year-2012-2013-asst-year-2013-2014/ )

  •    Includable Amounts in Deducting TDS in the hands of employer

 All Incomes from all the other heads of income but not losses. However loss from House Property can be deducted

  •    Rate of TDS 

Total Tax Payable is calculated as per Tax Rates Applicable for Individuals

(Refer this for Current Tax Rates http://www.thetaxinfo.com/2012/04/income-tax-rates-financial-year-2012-2013-asst-year-2013-2014/ )

Divided by 12 months. So much of amount should be Deducted Monthly.


  • DUE DATE FOR DEPOSITING TDS:


    • If deductor is govt or office of govt- on same day when deducted if  not accompanied by income tax challan or otherwise with in 7 days from the end of month in which tax is deducted


    • In case of others-with in 7 days from the end of month in which tax is deducted and if tax is deducted in the month of march  it should be paid with in 30th of april.


    • SURCHARGE RATE IS NIL HOWEVER EDUCATION CESS IS LEIVABLE @3%.


    • If TDS does apply or not required to be deducted apply to assessing officer for issuance of certificate and produce the certificate to the payer .
  • If the Employee doesn’t provide the PAN then tax should be deducted at 20% or actual tax rate, whichever is higher