Hello Everyone,
My Self Rutvi Khandwana, working with an IT Company as HR professional. I have almost two years of experience in HR field and its in IT field only.
But during by two years of experience i havent get chance to work with any senior HR person, to whom i can ask about my queries and get his/her help in difficult situation.
When i came to know about this citehr community , i feel that i might get some help from senior HR persons here.
My skype id id - rutvikhandwala
Kindly add me on skype to have a healthy discussion on my queries.
It will be a great help from your side
Thanks in Advance
Regards,
From India, Mumbai
5My Self Rutvi Khandwana, working with an IT Company as HR professional. I have almost two years of experience in HR field and its in IT field only.
But during by two years of experience i havent get chance to work with any senior HR person, to whom i can ask about my queries and get his/her help in difficult situation.
When i came to know about this citehr community , i feel that i might get some help from senior HR persons here.
My skype id id - rutvikhandwala
Kindly add me on skype to have a healthy discussion on my queries.
It will be a great help from your side
Thanks in Advance
Regards,
From India, Mumbai
Dear Rutvi, Nothing to worry. Be Bold. Come out with your queries in this site. You gain more. regards Saravanan
From India, Hyderabad
From India, Hyderabad
Hello Mr.Saravanan,
Thanks you.
My query is as below-
We have total strength of 30 employees, and they have their average salary package around 25-30k/ month
Now i spoke to our C.A, he said that employees who are suppose to get salary more than 2 lacs in a financial year , need to submit their investment detail to the HR dept.
So we can start deducting their taxable amount in January, February and in march month.
Now i need to draft an email to inform employees about this along with detail of tax limit, their taxable salary and which types of investment do they need to do, which documents are they needed to submit at HR dept and also we are going to deduct tax amount in three equal parts in jan . feb and march month.
Can anyone please help me to draft that email.
Thank you
Regards,
Rutvi Khandwala
From India, Mumbai
Thanks you.
My query is as below-
We have total strength of 30 employees, and they have their average salary package around 25-30k/ month
Now i spoke to our C.A, he said that employees who are suppose to get salary more than 2 lacs in a financial year , need to submit their investment detail to the HR dept.
So we can start deducting their taxable amount in January, February and in march month.
Now i need to draft an email to inform employees about this along with detail of tax limit, their taxable salary and which types of investment do they need to do, which documents are they needed to submit at HR dept and also we are going to deduct tax amount in three equal parts in jan . feb and march month.
Can anyone please help me to draft that email.
Thank you
Regards,
Rutvi Khandwala
From India, Mumbai
Hi Rutvi,
This goes well when your CA first visit your company and give a formal detailed introduction of TDS that is going to be deducted.
After that, you can draft your mail like this:
"Dear All,
This is a mail to inform you that as per discussion we had in last few days along with CA, we are going to deduct your TDS for financial year (2013-2014) in month of January, February and March"
For that, you need to submit following receipts and documents as a proof of your investment.
We are expecting your cooperation in this matter, please submit it by end of this week/month"
Also, you can attach TDS form which includes investment details, so employees will get an idea that what exactly will be needed.
Regards,
Shreya Parikh
(HR)
From India, Pune
This goes well when your CA first visit your company and give a formal detailed introduction of TDS that is going to be deducted.
After that, you can draft your mail like this:
"Dear All,
This is a mail to inform you that as per discussion we had in last few days along with CA, we are going to deduct your TDS for financial year (2013-2014) in month of January, February and March"
For that, you need to submit following receipts and documents as a proof of your investment.
We are expecting your cooperation in this matter, please submit it by end of this week/month"
Also, you can attach TDS form which includes investment details, so employees will get an idea that what exactly will be needed.
Regards,
Shreya Parikh
(HR)
From India, Pune
Hi Rutvi,
KFA the investment declaration form. You can ask every employee to fill this so that, you can have better Idea of their savings & decide the taxable amount.
If you need any help...kindly let me know.
BR//
Mahipal
From India, New Delhi
KFA the investment declaration form. You can ask every employee to fill this so that, you can have better Idea of their savings & decide the taxable amount.
If you need any help...kindly let me know.
BR//
Mahipal
From India, New Delhi
HI Rutvi,
Agree with Shreya and Mr. Vyas, both shared useful information for you. My advice is same don't get in much lengthy email. It should be clear and small only with valuable information. Also this form sent my Mahipal will be helpful for you in other way. Just attach the document which you have for the same, so that they can get some idea what exactly you need and also mention the required things in email. They will surely provide you the details.
From India, Gurgaon
Agree with Shreya and Mr. Vyas, both shared useful information for you. My advice is same don't get in much lengthy email. It should be clear and small only with valuable information. Also this form sent my Mahipal will be helpful for you in other way. Just attach the document which you have for the same, so that they can get some idea what exactly you need and also mention the required things in email. They will surely provide you the details.
From India, Gurgaon
share your other queries so that we can best and suitable opinions from our seniors and friends.
From India, Gurgaon
From India, Gurgaon
Dear Rutvi,
First of all I would like to agree to what earlier follower has said that share your problems, where more than one followers will give their valuable suggestions which will benefit you and others who might have similar problems or even those who would like to have more than one solution to a given ;problem.
Now to your problem. As per IT Law, deduction of TDS is mandatory on the part of employer from the employees whose tax liability is more than Rs.5000/- p.a.(if the provisions have not modified).
Now as you mentioned, the average annual income of employees come to around 3 lakhs to 3.6 lakhs which attracts a tax slab of 10% on the taxable amount after allowing deductions u/s 88(upto 1 Lakh which includes premiums on life insurance, PF/PPF contribution, NSC, Pension Contribution, House building Loan(Principal amount), tuition fee of school going children upto 2 children etc.), and other sections (80D, 80G etc.etc.), Interest paid on HB Loan.
So first of all send a notice/mail to all concerned that each and every employee is required to submit the details of his savings under above Sections by 15th December (If you are willing to deduct TDS in Jan, Feb. & March), so that tax liability of individual employee may be assessed. After that your finance department or pay roll department may tailor TDS amount in installment.
Hope this will help you.
AK Jain
HR Personnel
NCL, CIL
From India, Jabalpur
First of all I would like to agree to what earlier follower has said that share your problems, where more than one followers will give their valuable suggestions which will benefit you and others who might have similar problems or even those who would like to have more than one solution to a given ;problem.
Now to your problem. As per IT Law, deduction of TDS is mandatory on the part of employer from the employees whose tax liability is more than Rs.5000/- p.a.(if the provisions have not modified).
Now as you mentioned, the average annual income of employees come to around 3 lakhs to 3.6 lakhs which attracts a tax slab of 10% on the taxable amount after allowing deductions u/s 88(upto 1 Lakh which includes premiums on life insurance, PF/PPF contribution, NSC, Pension Contribution, House building Loan(Principal amount), tuition fee of school going children upto 2 children etc.), and other sections (80D, 80G etc.etc.), Interest paid on HB Loan.
So first of all send a notice/mail to all concerned that each and every employee is required to submit the details of his savings under above Sections by 15th December (If you are willing to deduct TDS in Jan, Feb. & March), so that tax liability of individual employee may be assessed. After that your finance department or pay roll department may tailor TDS amount in installment.
Hope this will help you.
AK Jain
HR Personnel
NCL, CIL
From India, Jabalpur
HI Rutvi,
I would recommend that you roll out an organizational announcement asking all the employees to submit their IT/TDS declaration along with the supporting documents. Please ensure that you mention a last date for submission of TDS declaration in your communique. From my experience, you will need to follow up with the employees (especial senior level tenured staff) for submission.
all the best
Anoop Mittra
From India, Delhi
I would recommend that you roll out an organizational announcement asking all the employees to submit their IT/TDS declaration along with the supporting documents. Please ensure that you mention a last date for submission of TDS declaration in your communique. From my experience, you will need to follow up with the employees (especial senior level tenured staff) for submission.
all the best
Anoop Mittra
From India, Delhi
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