Hello Everyone,
My name is Rutvi Khandwana, and I work with an IT company as an HR professional. I have almost two years of experience in the HR field, specifically in IT. However, during my two years of experience, I haven't had the chance to work with any senior HR person who could guide me and help me in difficult situations.
Upon discovering the CiteHR community, I realized that I might receive assistance from senior HR professionals here. My Skype ID is rutvikhandwala. Please feel free to add me on Skype for engaging discussions on my queries. Your support would be greatly appreciated.
Thank you in advance.
Regards,
From India, Mumbai
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5My name is Rutvi Khandwana, and I work with an IT company as an HR professional. I have almost two years of experience in the HR field, specifically in IT. However, during my two years of experience, I haven't had the chance to work with any senior HR person who could guide me and help me in difficult situations.
Upon discovering the CiteHR community, I realized that I might receive assistance from senior HR professionals here. My Skype ID is rutvikhandwala. Please feel free to add me on Skype for engaging discussions on my queries. Your support would be greatly appreciated.
Thank you in advance.
Regards,
From India, Mumbai
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Dear Rutvi, Nothing to worry. Be Bold. Come out with your queries in this site. You gain more. regards Saravanan
From India, Hyderabad
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From India, Hyderabad
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Hello, Mr. Saravanan,
Thank you.
My query is as follows:
We have a total strength of 30 employees, and they have an average salary package of around 25-30k per month. I spoke to our C.A., and he mentioned that employees who are supposed to receive a salary of more than 2 lakhs in a financial year need to submit their investment details to the HR department. This will allow us to start deducting their taxable amount in January, February, and March.
Now, I need to draft an email to inform employees about this. The email should include details of the tax limit, their taxable salary, the types of investments they need to make, the documents they need to submit to the HR department, and the plan to deduct tax in three equal parts in January, February, and March.
Can anyone please help me draft that email?
Thank you.
Regards,
Rutvi Khandwala
From India, Mumbai
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Thank you.
My query is as follows:
We have a total strength of 30 employees, and they have an average salary package of around 25-30k per month. I spoke to our C.A., and he mentioned that employees who are supposed to receive a salary of more than 2 lakhs in a financial year need to submit their investment details to the HR department. This will allow us to start deducting their taxable amount in January, February, and March.
Now, I need to draft an email to inform employees about this. The email should include details of the tax limit, their taxable salary, the types of investments they need to make, the documents they need to submit to the HR department, and the plan to deduct tax in three equal parts in January, February, and March.
Can anyone please help me draft that email?
Thank you.
Regards,
Rutvi Khandwala
From India, Mumbai
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Hi Rutvi,
This goes well when your CA first visits your company and gives 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 the discussion we had in the last few days along with the CA, we are going to deduct your TDS for the financial year (2013-2014) in the months of January, February, and March. For that, you need to submit the following receipts and documents as proof of your investment. We are expecting your cooperation in this matter; please submit it by the end of this week/month."
Also, you can attach the TDS form which includes investment details so employees will get an idea of what exactly will be needed.
Regards,
Shreya Parikh
(HR)
From India, Pune
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This goes well when your CA first visits your company and gives 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 the discussion we had in the last few days along with the CA, we are going to deduct your TDS for the financial year (2013-2014) in the months of January, February, and March. For that, you need to submit the following receipts and documents as proof of your investment. We are expecting your cooperation in this matter; please submit it by the end of this week/month."
Also, you can attach the TDS form which includes investment details so employees will get an idea of what exactly will be needed.
Regards,
Shreya Parikh
(HR)
From India, Pune
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Hi Rutvi,
Kindly forward the investment declaration form to every employee. This will provide you with a better idea of their savings and help you determine the taxable amount.
If you need any assistance, please let me know.
Best Regards,
Mahipal
From India, New Delhi
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Kindly forward the investment declaration form to every employee. This will provide you with a better idea of their savings and help you determine the taxable amount.
If you need any assistance, please let me know.
Best Regards,
Mahipal
From India, New Delhi
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Hi Rutvi,
I agree with Shreya and Mr. Vyas; both shared useful information for you. My advice is the same: don't send lengthy emails. Keep them clear, concise, and only include valuable information. The form sent by Mahipal will also be helpful for you in other ways. Simply attach the document you have for reference so they can understand your needs better. Mention the required details in the email. They will surely provide you with the necessary information.
From India, Gurgaon
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I agree with Shreya and Mr. Vyas; both shared useful information for you. My advice is the same: don't send lengthy emails. Keep them clear, concise, and only include valuable information. The form sent by Mahipal will also be helpful for you in other ways. Simply attach the document you have for reference so they can understand your needs better. Mention the required details in the email. They will surely provide you with the necessary information.
From India, Gurgaon
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share your other queries so that we can best and suitable opinions from our seniors and friends.
From India, Gurgaon
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From India, Gurgaon
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Dear Rutvi,
First of all, I would like to agree with what an earlier follower has said: share your problems, where more than one follower will give their valuable suggestions. This 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, the deduction of TDS is mandatory on the part of the employer from the employees whose tax liability is more than Rs. 5000/- per annum (if the provisions have not been modified).
As you mentioned, the average annual income of employees comes to around 3 lakhs to 3.6 lakhs, which attracts a tax slab of 10% on the taxable amount after allowing deductions under section 88 (up to 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 up to 2 children, etc.), and other sections (80D, 80G, etc.), Interest paid on HB Loan.
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 the above Sections by 15th December (If you are willing to deduct TDS in Jan, Feb, & March), so that the tax liability of individual employees may be assessed. After that, your finance department or payroll department may tailor TDS amounts in installments.
Hope this will help you.
AK Jain
HR Personnel
NCL, CIL
From India, New+Delhi
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First of all, I would like to agree with what an earlier follower has said: share your problems, where more than one follower will give their valuable suggestions. This 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, the deduction of TDS is mandatory on the part of the employer from the employees whose tax liability is more than Rs. 5000/- per annum (if the provisions have not been modified).
As you mentioned, the average annual income of employees comes to around 3 lakhs to 3.6 lakhs, which attracts a tax slab of 10% on the taxable amount after allowing deductions under section 88 (up to 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 up to 2 children, etc.), and other sections (80D, 80G, etc.), Interest paid on HB Loan.
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 the above Sections by 15th December (If you are willing to deduct TDS in Jan, Feb, & March), so that the tax liability of individual employees may be assessed. After that, your finance department or payroll department may tailor TDS amounts in installments.
Hope this will help you.
AK Jain
HR Personnel
NCL, CIL
From India, New+Delhi
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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 (especially senior-level tenured staff) for submission.
All the best,
Anoop Mittra
From India, Delhi
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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 (especially senior-level tenured staff) for submission.
All the best,
Anoop Mittra
From India, Delhi
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