In India Tax Deduction returns have to be submitted every quarter. TDS of employees will be calculated on a monthly basis Online e-TDS return deposits We have software which are designed for filling e-TDS return based on the NSDL format.
e-TDS - Overview According to tax laws, entities (business and enterprises - deductors) making payments to third parties (deductees) are required to deduct tax at source (withholding tax Source TDS) of such payments and deposit same to a designated branches of authorized banks. They must also provide TDS returns with the details of the taxpayer (s) and bank where TDS amount deposited with the Income Tax Department (ITD).
Rate of Tax Deduction: For salaries the employer is required to calculate the employee's actual income tax liablity and deduct it from the salary and deposit it with the government.
Tax should be deposited every month in a single online payment for all the employees and later while filing the quarterly TDS returns the employer has to give details as to how much tax has been deducted against each employee.
Create your own unique website with customizable templates.
payroll setup India, payroll processing india Call Us : +91 9246536701