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Anjali | Hi ,my salary is 9000 PM and working in a architect firm they are deducting tax 10% every month kindly answe? |
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Richard P
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If you are trying to figure whether the witholding is correct, run an annualized computation through a 1040 form and see whether you owe the IRS (and check the state tax also). Without knowing what exemptions you are entitled to, my sense is that the amount seems low. |
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DeepakB
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This is a very common kind of question I have seen in last couple of months at Y!A.
Actually if you (infact everyone) clearly read your appointment letter (In legal terms) you will find that you are a contractual employee of the company, which in Income Tax paralance is not a fit case of Income as "Salary" but is termed as "Consultancy" receipt/payments. So on this logic, under section 194J of the Income Tax Act, your employer is under obligation to deduct TDS @ 10.30% every month, which is perfectally valid and legal.
Regards,
CA. Deepak |
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khushi
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This is applicable only if you are NOT an employee & working either on contractual basis or as a consultant with the company. They must be deduting TDS not tax actually.
It is ok if the above explanation holds true otherwise you need to talk to the HR.
All the best buddy!!! |
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navind
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You're not liable to pay Income tax if your taxable income is less then Rs.110000/-. How ever deducter of TDS is not concerned with your income. In your case you have to file Return of Income for assessment year 2008-09 (a/c yr 2007-08) and claim the amount of TDS. The matter of TDS is well described by DEPAK E in his answer. |
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Searching Self in this World
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I think if u r on contract basis they are deducting TDS and will provide u TDS certificate after year ending.
As ur salary is not 1.25lakhs/annum there will not b any dedution and u need to produce this TDS certificate in Tax dept for which whole deducted amt from ur salary will b given back to u
in 1sense u can feel its as u r getting bonus of 1salary for 13th month which never exsist |
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Orthodox Purushottam Kabra
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Mr. Deepak (CA)'s answer is only appropriate. First you have to confirm whether your are employee or the firm has appointed you as professional consultant. |
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delta
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first of all u have not written your question correctly. In which country u are and what is the currency u are getting paid in. If it is indian rupees 9000 per month and you are on their payroll as a temporary or permanent employess , they cannot deduct any tax. If u are employed with them on a contract basis for a certain period, they are right in deducting 10% tds from your contracted salary. see your employment letter and u will understand what i am saying. |
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ramesh k
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yes |
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askme_2222
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hi, your annual income 108000 OK. architect firm is died. only 2.04 t.d.s +service charge and receipt to died., to tds you retrain i.t. to stilted refined incomtex dip.10% is rong. |
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