TUTORIAL ON TDS- PART-01 TDS ON SALARY

Today’s topic might catch many of you unaware of certain provisions in law and might give clarity to rest who are aware of such provisions. Wondering what we are going to discuss today. So, let me tell you.

TDS deduction seems to be still very confusing and challenging for many NGOs due to various limits and rates prescribed in the Income Tax Act. We keep on getting queries from all corners of the country related to TDS deduction.

I am Ashis Agarwal from Team NGOenabler and today I am starting a series of videos on some important sections of TDS to bring more clarity and understanding on when to deduct TDS and at what rates the deduction should be made.

The series shall continue unless there comes any other important updates or amendments related to NGOs during the interim period. So, today I will discuss on the very first Section of TDS i.e. TDS on Salary.

TDS on salary has been very confusing and difficult for many, especially NGOs who usually are not so conversant with the law. Many of them are still under a disbelief that no TDS has to be deducted on salary as tax is the liability of the individual receiving salary but it is not so. So, today, I will try to cover all the aspects related to TDS on Salary and provide you with a practical derivation of the same, once I have completed explaining all its aspects.

So, let's begin. TDS on payment to contractors, rent, professionals, etc… are comparatively easy to understand given the specified rate in the prescribed sections of the Act. However, Section 192 which lays down provisions for TDS deduction on payment of Salary does not specify any fixed rate but depends on the income tax slab rate prescribed for individuals and thus becomes difficult to comprehend and calculate. I will try to ensure that post watching this video, this task too will seem easy and smooth for my viewers.

CLICK BELOW TO SHOW DECLARATION FORM 👇

GET IN TOUCH:

#TDS_ON_SALARY #TDS_SALARY #TDS
#SALARY_DEDUCTION

all about taxes,all about income tax,income tax news,income tax latest,tds provisions,tds on salary,tds u/s 192,tds,all about tds,tds on salary calculation 2020-21,tds on salary for fy 2020-21,tax calculation 2020-21,tax calculation,income tax calculation of salary employee,ngo enabler,tds on salary section 192b,tds on salary rate,tax on salary in india,SALARY DEDUCTION U/S 192,TDS DEDUCTION ON SALARY U/S 192,HOW TO DEDUCT TDS ON SALARY,how to calculate tds deduction on salary

[dishashah]

very nice video thanks sir keep making such videos .

[diwasrajbiswa]

Hi Sir, what if the salary is paid 50%for the current financial year due to pandemic, so while calculation tax should I take the gross or the net that is actually paid. The balance salary is paid next year.
Kindly help us.