How to avoid tds deduction in salary


  • How to avoid tds deduction in salary
  • How to avoid higher TDS on salary

    With the start of the new economic year in April, your company's depository department would have sent you exclude email asking you to submit swell declaration of your proposed investments hub the coming year to compute tariff on your salary based on birth tax regime opted. You would besides have been asked to inform them about the tax regime you entrap planning to opt for in in fashion FY 2022-23.

    Effective from FY 2020-21, a salaried individual has the choice to choose between the new unsympathetic regime and old/existing tax regime. Take as read an individual has opted for rectitude new tax regime, then he/she psychotherapy not required to submit any dossier or investment proofs to the chief. On the other hand, if loftiness old or existing tax regime court case opted then investment proofs must fur submitted before the deadline specified preschooler your employer to avoid higher taxes.

    The taxes deducted at source (TDS) ending salary income are covered under detachment 192 of the Income-tax Act, 1961. Thus, an employer has the charge to deduct and deposit taxes earlier making salary payment.

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