I am working in a small s/w company . I get salary (rs 30000) by cash . I got selected in 2 company both are asking for bank statement but I don’t have because I am getting salary by cash . They are asking for some payment prove like Cash payment voucher . I used to sign voucher but I heard that the receiver should sign on cash voucher across stamp but I do not signed on the stamp but I sign on the cash voucher . I have one more problem is that they do not deduct TDS . Can you please give me the solution of this .
From India, Mumbai
Acknowledge(0)
Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Dear Mr. Rajeev,
It is surprising that the salary of Rs. 30,000 is paid in cash every month. Payment in cash is also not a problem. However, if the payer is not concerned about paying in cash and is ignoring TDS deduction, then the payer has to take all the liability. You can still ask the same question to your employer.
Ramakant
From India, Pune
Acknowledge(0)Amend(0)
71It is surprising that the salary of Rs. 30,000 is paid in cash every month. Payment in cash is also not a problem. However, if the payer is not concerned about paying in cash and is ignoring TDS deduction, then the payer has to take all the liability. You can still ask the same question to your employer.
Ramakant
From India, Pune
Acknowledge(0)Amend(0)
Your pay would have been 30000 * 12 = 360000. For F/Y 2014-15, the tax slab applicable was 10% of the amount exceeding 250000, which would mean tax on Rs 110000. Tax payable would be Rs 11000. However, what savings have been done by you - life insurance, PPF, etc. For those earning below Rs 500000, there is an IT rebate of Rs 2000 in addition. Since the employer has not deducted TDS, you need to work out your tax and make payment through challan online or deposit in SBI treasury branch using challan number 280.
From India, Pune
Acknowledge(0)Amend(0)
From India, Pune
Acknowledge(0)Amend(0)
Sir I am paying back Rs 150000 + LIC of Rs25000 . So I dont need to pay Income tax
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Sir Sir I am paying back Rs 150000 in the form of Education loan instalment + LIC of Rs25000 . So I dont need to pay Income tax
From India, Mumbai
Acknowledge(0)Amend(0)
From India, Mumbai
Acknowledge(0)Amend(0)
Why are you paying back Rs150000? Is the payback by cash or cheque?
From India, Pune
Acknowledge(0)Amend(0)
From India, Pune
Acknowledge(0)Amend(0)
Hello everyone,
I want to get a loan, but I receive my salary in cash. My basic salary is 8500 with all allowances totaling 27500. I work at a petrol pump. When I went to the bank, they asked to see my salary slip or any other TDS certificate. However, I file my income tax return (ITR) every year. Despite this, the bank official insists on me submitting the salary slip or any TDS certificate.
Is TDS deducted on cash payment salaries? Can you please clarify this for me? Once I have this information, I can proceed further.
Thank you
From India, New Delhi
Acknowledge(0)Amend(0)
I want to get a loan, but I receive my salary in cash. My basic salary is 8500 with all allowances totaling 27500. I work at a petrol pump. When I went to the bank, they asked to see my salary slip or any other TDS certificate. However, I file my income tax return (ITR) every year. Despite this, the bank official insists on me submitting the salary slip or any TDS certificate.
Is TDS deducted on cash payment salaries? Can you please clarify this for me? Once I have this information, I can proceed further.
Thank you
From India, New Delhi
Acknowledge(0)Amend(0)
Produce your Income Tax Return (ITR) to the bank. ITR is the best proof of your declared income, and the bank is bound to accept it.
What is the breakdown of allowances? How much transport allowance is included in this amount?
27500*12 = 330000.
Does your pay remain the same every month? More details about the breakdown of pay are needed.
From India, Pune
Acknowledge(0)Amend(0)
What is the breakdown of allowances? How much transport allowance is included in this amount?
27500*12 = 330000.
Does your pay remain the same every month? More details about the breakdown of pay are needed.
From India, Pune
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.
BASICS OF TDS ON SALARY-1.doc
Monthly Salary Statement - CTC and TDS Calculator.xls