Hi, In normal course TDS deductions comes under the purview of Payroll/Account team.
From India, Madras
948From India, Madras
Tax Deduction at Source, GST, Returns etc. are taxation matters which comes under the portfolio of Finance & Accounts Deptt. of any company and shall not be under HR.
From India, Aizawl
From India, Aizawl
TDS under Company emoluments are related to Finance. But it is not mandatory for Finance if the Company policy says otherwise.
1. Normally HR is fully responsible for all matters related to Employees.
2. Therefore automatically their roll for the Data of Employees are primary.
3. Unless the HR prepare the working hours and days or other basis data as per Employees rules no further calculation is possible. Therefore it is their responsibility. Next the Salary and other perks earned by them.
4. After this comes the Loan and other deductions.
5. Then TDS comes into the picture. Here the Finance fill in the deductions applicable for each employees. Normally this work is progressive. As some company have a standard policy of monthly deductions for the first Quarter, then a review is made for their salary earned and deductions allowed. Later as the 3rd Quarter going to end they need the staff details about their Investments proof that are eligible for deductions under IT Act & Rules.
6. In any case once a TDS is deducted as per the Salary details of the Company their responsibility is over. If the employee makes investment later then it will not be considered by the company but TDS will be deducted that is applicable as per SOI calculations and TDS Certificate is issued.
7. They will have to submit their ROI and submit IT Return to get a Refund is any a applicable.
From Saudi Arabia
1. Normally HR is fully responsible for all matters related to Employees.
2. Therefore automatically their roll for the Data of Employees are primary.
3. Unless the HR prepare the working hours and days or other basis data as per Employees rules no further calculation is possible. Therefore it is their responsibility. Next the Salary and other perks earned by them.
4. After this comes the Loan and other deductions.
5. Then TDS comes into the picture. Here the Finance fill in the deductions applicable for each employees. Normally this work is progressive. As some company have a standard policy of monthly deductions for the first Quarter, then a review is made for their salary earned and deductions allowed. Later as the 3rd Quarter going to end they need the staff details about their Investments proof that are eligible for deductions under IT Act & Rules.
6. In any case once a TDS is deducted as per the Salary details of the Company their responsibility is over. If the employee makes investment later then it will not be considered by the company but TDS will be deducted that is applicable as per SOI calculations and TDS Certificate is issued.
7. They will have to submit their ROI and submit IT Return to get a Refund is any a applicable.
From Saudi Arabia
Community Support and Knowledge-base on business, career and organisational prospects and issues - Register and Log In to CiteHR and post your query, download formats and be part of a fostered community of professionals.
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
How to prepare TDS return on Taxcloud.ppt