Yes. It is his duty as per law to deduct tax from the income paid to you by him. This deduction is called TDS (Tax deducted at source). TDS is deducted each month by employers based on tax projections declared by the employee at the beginning of each ...
TDS means any tax is deducted on your income/ receipts. You can find these details in Form 26AS. By uploading Form 26AS these data will be automatically filled up. TAN(Tax deduction and Collection account number)= You will get this at the form 16 or ...
Yes. Any person who is entitled to receive the amount (income) on which tax is deductible, must provide PAN to the deductor. If you have not provided your PAN then your employer may deduct tax from your income at higher of the rates in force or 20% ...
You have to calculate the amount of tax after availing benefits of deduction u/s 89 of the Act and submit Form No. 10E online on the I-T website. You must keep your salary slip safely as proof for the arrears/advance. After submitting this form, you ...
Yes. The exemption of amount received under VRS is extended to all employees of the Central Government w.e.f. Assessment Year 2002-2003 and for all State Government employees w.e.f. Assessment Year 2001-2002.