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Every employer who is paying a ‘salary’ to their employees must deduct tax (tax deducted at source) on the month’s salary. However, unlike other incomes, TDS rate on salary income is not fixed. It is dependent upon the total estimated…
The Income Tax Department will soon send notices to individuals who have not filed income tax returns (ITRs). The notices will be sent to even those whose income tax has been deducted at source, The Economic Times reported on Sunday.…
A mismatch between what an employer computes and what an employee claims can drag both under the taxman’s glare. The Income Tax (I-T) department is using a fine-tooth comb to nab discrepancies in the tax deducted at source, or TDS,…