Dear Friends,
Need suggestion this is dev as im working in a private company since past 3 years and my salry is 18000 INR per month company does not provide any salary slip and salary come through cash also not in a fix date.
My company accountant force me to pay tax (TDS) do am eligible to pay any kind of tax???
Out of four Im one earning member in my family. Also im a loan holder from bank 1 lakh 50 thousand. And aprox a lakh loan from private society I can’t afford even a single deduction in my salary please suggest.
Need help.
Thanks & Regards
Dev
From India, New Delhi
Need suggestion this is dev as im working in a private company since past 3 years and my salry is 18000 INR per month company does not provide any salary slip and salary come through cash also not in a fix date.
My company accountant force me to pay tax (TDS) do am eligible to pay any kind of tax???
Out of four Im one earning member in my family. Also im a loan holder from bank 1 lakh 50 thousand. And aprox a lakh loan from private society I can’t afford even a single deduction in my salary please suggest.
Need help.
Thanks & Regards
Dev
From India, New Delhi
Dear Dev,
As per your provided Salary i.e 18000 PM comes to annual Salary of Rs 216000. With in this Standard Deduction is Rs 2,00,000 as per IT act., So you have excess Salary of Rs 16,000 to be pay Tax. With in this also per month 3000 House rent allowance is exempted so that you are not in the TDS. You need not to pay any tax in any manner. Even though your salary credited by way of Cash/cheue also. Do not worry and say the same fact to your employer if they are not satisfy with the above explanation. Please feel to speak me
Hope you have cleared your doubt
Thanks
Lakshminaryana
9866917232
From India, Hyderabad
37As per your provided Salary i.e 18000 PM comes to annual Salary of Rs 216000. With in this Standard Deduction is Rs 2,00,000 as per IT act., So you have excess Salary of Rs 16,000 to be pay Tax. With in this also per month 3000 House rent allowance is exempted so that you are not in the TDS. You need not to pay any tax in any manner. Even though your salary credited by way of Cash/cheue also. Do not worry and say the same fact to your employer if they are not satisfy with the above explanation. Please feel to speak me
Hope you have cleared your doubt
Thanks
Lakshminaryana
9866917232
From India, Hyderabad
Dear Lakshminaryana, Thanks for your kind response if i need any assistance in future sure will let you know. Once again thanks to you and this platform
From India, New Delhi
From India, New Delhi
Dear Mr. Dev / Mr.Laxminarayana,
Even considering your total Income to Rs.2,16,000. it is totally exempted for the F.Y.2013-14.
Under 97 A you get benefit of Rs.2,000 in tax hence on 16,000 tax liability Rs.1,600 less Rs.2000
No tax do not worry.
This is surprising that even your company is paying salary in cash and are intending to deduct tax. Somewhere something must be going wrong.
Ramakant
From India, Pune
Even considering your total Income to Rs.2,16,000. it is totally exempted for the F.Y.2013-14.
Under 97 A you get benefit of Rs.2,000 in tax hence on 16,000 tax liability Rs.1,600 less Rs.2000
No tax do not worry.
This is surprising that even your company is paying salary in cash and are intending to deduct tax. Somewhere something must be going wrong.
Ramakant
From India, Pune
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TDS circular.pdf
Format--new TDS rates.xls