Dear Sir/Madam,
How many types of taxes are there that can be deducted from the salary process? Please suggest to me how we can file and submit the returns. Also, when can we deduct from the employee's salary process?
Thank you.
From India, Bangalore
Acknowledge(0)
Amend(0)
1How many types of taxes are there that can be deducted from the salary process? Please suggest to me how we can file and submit the returns. Also, when can we deduct from the employee's salary process?
Thank you.
From India, Bangalore
Acknowledge(0)Amend(0)
Hi,
There are 2 taxes:
1) PT - There are various slabs for PT. For 0-9999, there is no tax, for 10000-14999 it is Rs. 150, and for 15000 & above, it is Rs. 200. This amount should be deducted on a monthly basis and remitted to the respective PT office.
2) TDS (Income Tax) - Various calculations and factors such as savings, other income, Housing Loan, etc., are considered for this. Based on these factors, you should deduct the tax monthly and remit it to the Income tax department. These deductions should be made from the employee's salary only.
Apart from that, there are other deductions as well:
ESI and PF - You need to enroll for both ESI and PF. Both the employee (EE) and the employer (ER) should contribute to ESI and PF.
Thank you.
From India, Bangalore
Acknowledge(0)Amend(0)
There are 2 taxes:
1) PT - There are various slabs for PT. For 0-9999, there is no tax, for 10000-14999 it is Rs. 150, and for 15000 & above, it is Rs. 200. This amount should be deducted on a monthly basis and remitted to the respective PT office.
2) TDS (Income Tax) - Various calculations and factors such as savings, other income, Housing Loan, etc., are considered for this. Based on these factors, you should deduct the tax monthly and remit it to the Income tax department. These deductions should be made from the employee's salary only.
Apart from that, there are other deductions as well:
ESI and PF - You need to enroll for both ESI and PF. Both the employee (EE) and the employer (ER) should contribute to ESI and PF.
Thank you.
From India, Bangalore
Acknowledge(0)Amend(0)
For employees working in India, Professional Tax and Income Tax are applicable. Fellow CiteHR member Jeevarathnam has already provided details on tax regulations. If you require more information and guidance on simplifying the process of generating returns, please refer to the following wiki links:
[Professional Tax FAQs](http://wiki.greytip.in/wiki/Professional_Tax_Faqs)
[Income Tax FAQs](http://wiki.greytip.in/wiki/Income_Tax_Faqs)
From India, Bangalore
Acknowledge(0)Amend(0)
[Professional Tax FAQs](http://wiki.greytip.in/wiki/Professional_Tax_Faqs)
[Income Tax FAQs](http://wiki.greytip.in/wiki/Income_Tax_Faqs)
From India, Bangalore
Acknowledge(0)Amend(0)Engage with peers to discuss and resolve work and business challenges collaboratively - share and document your knowledge. Our AI-powered platform, features real-time fact-checking, peer reviews, and an extensive historical knowledge base. - Join & Be Part Of Our Community.
THE TEN WORST TYPES OF EMPLOYEES A BOSS CAN HAVE.doc