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TDS Question / If I am Liable to Pay TDS 5000 P.M.?

Allied Laws - Started By: - Raghav Bharat - Dated:- 1-5-2016 Last Replied Date:- 2-5-2016 - Hi Raghavendra Varma, My Employer plans to deduct ₹ 5000 (at 10%) on Total Profit + Base Salary. Please find the details below:Company Balance:225,000 + Taxes Client1 = 257,000250,000 All inclusive Client240,000 + taxes Client3 = 44,000 Total :- 551,000 Company Deductions for Profit Sharing: TDS 10% : 55,000Service Tax 14% : 77,000 (Approx)Cess : 2750 (Approx)Me (Base Salary: 40,000Gagan : 45,000Vis .....

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800 INRMy Question is: On Profits, Company TDS was already calculated, 10% of overall should be again calculated? Which ITR form return should I e-fill?Kindly let me know the details. - Reply By Ganeshan Kalyani - The Reply = Sir, the salary paid by the company is accounted in the debit side of the P&L which means company is getting deduction of the expense and net amount is offered for Corporate Tax. Since salary is not taxed in the hands of company it is taxable in the hands of employee. T .....

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