Dear All:
Request you to help me in deciding wether we should deduct TDS from stipend payed to the trainee- who is pursuing the studies and came to our org for summer training/ project.
If no, what should be our explaination when it comes to account dept and audit people.
This si urgent.
Regards
Manasvi
From India, Bangalore
2Request you to help me in deciding wether we should deduct TDS from stipend payed to the trainee- who is pursuing the studies and came to our org for summer training/ project.
If no, what should be our explaination when it comes to account dept and audit people.
This si urgent.
Regards
Manasvi
From India, Bangalore
In my opinion ,tds shouldn't be deducted. Reasons
1. Summer trainee's does not fall under employee-employer relationship.
2. The stipend, unless it is so high , will not cross the IT limit.
Regards
Team GroupHR
From India, Delhi
1. Summer trainee's does not fall under employee-employer relationship.
2. The stipend, unless it is so high , will not cross the IT limit.
Regards
Team GroupHR
From India, Delhi
Hi Manaswi,
It is highly unlikely that the trainees would come under the income tax slabs.
The very simple reason not to deduct TDS is - As the company is not paying enough (anually) that the employee comes under this category. hence, the company does not have the liability to file the TDS of this paticular trainee.
Regards,
From India, Hyderabad
It is highly unlikely that the trainees would come under the income tax slabs.
The very simple reason not to deduct TDS is - As the company is not paying enough (anually) that the employee comes under this category. hence, the company does not have the liability to file the TDS of this paticular trainee.
Regards,
From India, Hyderabad
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Responsibilitie s of person who is responsible for deduction of TDS on salary.docx
Amendment in Section 192A of the IT Act, 1961- Instructions for deduction of TDS on withdrawal f.pdf