1. #1
    Unregistered

    What is the rule of TDS deduction in government sector?

    I am working in a government sector. My monthly salary is 30,000 INR. I want to know what is the exact amount of TDS deduction from my salary? Is the amount get deducted every month or annually?

  2. #2
    Param Array
    Join Date
    Sep 2012
    Posts
    298

    Re: What is the rule of TDS deduction in government sector?

    Dear Friend!

    TDS stands for Tax deducted at source. Any income payable to the assesses shall be liable for deduction of tax at deducted at prescribed rate as per Finance Act of that year. Person made the payment to employee or any person miens employer should be deduct the tds amount from payment. Over all liabilities to deduct tax by the employer. Filling of tds return for salaried person is not mandatory for income upto 5 lakhs if there is no tax payable, is it correct as per new IT rules.

  3. #3
    nurture Array
    Join Date
    Aug 2012
    Posts
    43

    Re: What is the rule of TDS deduction in government sector?

    In public sector or private sector TDS is same.

    TDS stands for Tax deduction at source.

    As of current TDS, people whose salary is less than 2 lakhs, no tat deductions at all.

    If your salary crosses 2 lakhs, it is 10% tax deduction.

    10% is for a salary range of 2-3 lakhs.

    The salary here is gross salary.

  4. #4
    mayankdevills Array
    Join Date
    Nov 2012
    Posts
    39

    Re: What is the rule of TDS deduction in government sector?

    TDS is Tax Deducation at Source, it is nothing but Income Tax.

    When an employee is drawing a salary of Rs. 1 lakh his employer is liable to deduct TDS (read Income Tax) on his salary part above Rs. 1 lakh once the employee claims all his/her savings done through LIC, Insurance schemes, PPF, Children School Fees, EPF, House Loans etc.

    At the end of the year, the employer issue TDS Certificate in the form 16A which employee submit with the Income Tax Return to the Income Tax department while filing ITR.

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