{"id":37190,"date":"2022-05-24T17:28:52","date_gmt":"2022-05-24T11:58:52","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=37190"},"modified":"2024-06-03T12:26:16","modified_gmt":"2024-06-03T06:56:16","slug":"section-192-of-income-tax-act-1961","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/section-192-of-income-tax-act-1961\/","title":{"rendered":"TDS on Provision for Salary- Section 192 of Income Tax Act 1961"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-37194 size-full\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/05\/TDS-on-Provision-for-Salary-Section-192-of-Income-Tax-Act-1961.png\" alt=\"TDS on Provision for Salary- Section 192 of Income Tax Act 1961\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/05\/TDS-on-Provision-for-Salary-Section-192-of-Income-Tax-Act-1961.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/05\/TDS-on-Provision-for-Salary-Section-192-of-Income-Tax-Act-1961-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/05\/TDS-on-Provision-for-Salary-Section-192-of-Income-Tax-Act-1961-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/05\/TDS-on-Provision-for-Salary-Section-192-of-Income-Tax-Act-1961-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/05\/TDS-on-Provision-for-Salary-Section-192-of-Income-Tax-Act-1961-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/05\/TDS-on-Provision-for-Salary-Section-192-of-Income-Tax-Act-1961-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">TDS<\/span><span style=\"font-weight: 400;\"> (Tax Deducted at Source)\u00a0is the sum which is taken away from the income of a person by a specified deductor and deposited to the Income Tax department. Section 192 of the <\/span><span style=\"font-weight: 400;\">Income Tax Act,1961<\/span><span style=\"font-weight: 400;\">, talks about the deduction of TDS on salary income by employers. In this blog, we will talk about TDS On Provision for Salary-\u00a0 Section 192, Income Tax Act 1961.<\/span><\/p>\n<p style=\"text-align: justify;\"><b>Table of Content<\/b><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #555;\">\n<ul>\n<li><a href=\"#What\">What is TDS on Salary?<\/a><\/li>\n<li><a href=\"#TDS\">TDS on Provision for Salary &#8211; Section 192<\/a><\/li>\n<li><a href=\"#under\">TDS Deducted under Section 192<\/a><\/li>\n<li><a href=\"#rate\">TDS deduction rate under section 192<\/a><\/li>\n<li><a href=\"#Who\">Who can Deduct TDS under Section 192?<\/a><\/li>\n<li><a href=\"#Calculation\">Calculation of tax deduction under section 192<\/a><\/li>\n<li><a href=\"#is\">What is the time limit to deposit TDS under Section 192?<\/a><\/li>\n<li><a href=\"#How\">How to calculate TDS in case the salary is payable in foreign currency?<\/a><\/li>\n<li><a href=\"#Some\">Some other Important Points related to TDS deduction<\/a><\/li>\n<li><a href=\"#Consequences\">Consequences of non-compliance under section 192<\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"What\" style=\"text-align: justify;\"><b>What is TDS on Salary?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">TDS on salary is the tax that the employer deducts during depositing the salary into the employee\u2019s account. The employer deposits the sum deducted from the employee\u2019s account to the government.<\/span><\/p>\n<p id=\"TDS\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Employer\u2019s TAN registration is compulsory before deducting the tax at source from an employee\u2019s salary. TAN (The Tax Deduction and Collection Account Number) number is a 10-digit number. This number is used to track <a href=\"https:\/\/www.cagmc.com\/tds-returns\/\">TDS deductions<\/a> as well as an allowance by the Income Tax Department.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>TDS on Provision for Salary &#8211; Section 192<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Section 192 of the Income Tax Act 1961, talks about the deduction of TDS on salary income by the employers. However, the section only covers TDS on salary income.<\/span><\/p>\n<p id=\"under\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The employer will deduct TDS from the salary payable to its employees. The salary one receives from his\/her employer is categorized in \u2018Income\u2019 under the head \u2018Salary\u2019. Further, the employer will be responsible for deducting TDS at normal income tax rates relevant to employees on their expected income for the appropriate financial year. The reflection of TDS deduction under section 192 is in Form 16, which employers issue to their employees.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>TDS Deducted under Section 192<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Following are the points when TDS deduction under section 192 takes place:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deduction of TDS is essential by the employer during payment of salary income when the taxable income of an employee is more than the basic exemption limit which is:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rs. 2,50,000\/- in case age is below 60 years<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rs. 3,00,000\/- in case age is 60 years or more but below 80 years<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Or; Rs. 5,00,000\/- in case age is 80 or above<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deduction of TDS necessary by an employer during payment of advance salary and arrear of salary.<\/span><\/li>\n<li id=\"rate\">TDS deduction on salary is necessary even if the employee does not have <a href=\"https:\/\/www.cagmc.com\/how-to-apply-for-instant-pan-card\/\">PAN<\/a> if the salary is more than the basic exemption limit.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>TDS deduction rate under section 192<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">As compared to other sections of TDS under Income Tax Act, there is no fixed rate for TDS under section 192. TDS under section 192 is calculated on the estimated income earned during the year at an average tax rate.<\/span><\/p>\n<p id=\"Who\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">To calculate the rate of TDS, the estimated overall tax liability that income is divided over the period of employment like months.<\/span><\/p>\n<p id=\"Who\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">TDS on salary = Estimated Total Tax Liability divided by Period of Employment\u00a0\u00a0<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Who can Deduct TDS under Section 192?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The employers can do a deduction of TDS under section 196. The following can be the employers in this respect:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Companies<\/span><span style=\"font-weight: 400;\"> (Private \/Public)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Individuals<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">HUF<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Local Authority<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.cagmc.com\/trust-registration\/\"><span style=\"font-weight: 400;\">Trusts<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.cagmc.com\/partnership-registration\/\"><span style=\"font-weight: 400;\">Partnership<\/span><span style=\"font-weight: 400;\"> firms<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Co-operative societies and<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Every Artificial judicial person<\/span><\/li>\n<\/ul>\n<p id=\"Calculation\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">An employer-employee relationship is necessary for TDS deduction as per section 192 of the Income Tax Act. Under this section, the status of the employer like companies, firms or HUF is irrelevant for the deduction of tax at the source.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Calculation of tax deduction under section 192<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">\u00a0The following points must be considered while calculating TDS on salary:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The other income like rental income etc. shall also be considered by the employer for calculation of TDS on salary if the information of such income is submitted by the employee.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If any interest on a home loan up to Rs. 2,00,000\/- will be set off from salary income to reach the estimated income for TDS calculation if the employee has given evidence in Form 12BB.<\/span><\/li>\n<li id=\"is\">The Employee shall c declare information about all the tax-saving investments to the employer using Form 12BB. Further, if an employer sees this, they will consider these saving investments and calculate the TDS amount accordingly.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>What is the time limit to deposit TDS under Section 192?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The TDS deduction on salary by the employer shall be deposited to the government within the following timeline to avoid interest:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">TDS deduction for April-Feb is the 7th of the subsequent month<\/span><\/li>\n<li id=\"How\">TDS deduction for March is 30th April<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>How to calculate TDS in case the salary is payable in foreign currency?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In this type of situation, firstly, all salaries will be converted into Indian currency. Further, the rate of exchange will be the last day of the month immediately preceding the month in which the salary is due, or advance payment or arrears.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">After conversion, the calculation of TDS is according to the normal provisions of the TDS deduction.<\/span><\/p>\n<p id=\"Some\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Illustration: If the payment of salary in July is in foreign currency then the rate of exchange will be on 30th June.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Some other Important Points related to TDS deduction<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The followings are some of the other important points related to TDS deduction:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">TDS deduction under section 192 is not applicable on payments of doctors by the hospital as it comes under professional fees. \u00a0However, the TDS deduction under section 192 will be there if it is a contract of service.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The employer is not accountable for the deduction of TDS on the tip (which the customers may pay in the form of service charges to waiters) since it is not a part of salary income.<\/span><\/li>\n<li id=\"Consequences\">The salary of directors by the company does not come under section 192, because there is no employee-employer relationship among them.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Consequences of non-compliance under section 192<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Following are the Consequences of non-compliance under section 192:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Levy of Interest<\/strong>:\u00a0When there is no deduction of TDS ON salary by the employer or if deduction of the TDS is done but not deposited to the government then interest is mandatory to be paid on such amount.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Disallowance of expenses<\/strong>:\u00a0if the TDS deduction is not on time the employer will not be eligible to claim the deduction of salary expense from PGBP income. The number of forbidden salary expenses shall be, 30% of Salary payment to Resident and 100% of Salary payment to Non-Resident.<\/span><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Conclusion<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Therefore, section 192 of the <a href=\"https:\/\/www.incometaxindia.gov.in\/pages\/acts\/income-tax-act.aspx\" target=\"_blank\" rel=\"noopener\">Income Tax Act 1961<\/a>, talks about the deduction of TDS on salary income by the employers. TDS on salary is the tax that the employer deducts during depositing the salary into the employee\u2019s account. However, the section only covers TDS on salary income. Further, an employer-employee relationship is necessary for TDS deduction as per section 192 of the Income Tax Act.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TDS (Tax Deducted at Source)\u00a0is the sum which is taken away from the income of a person by a specified [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":37194,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[69],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Section 192 of Income Tax Act 1961 | TDS on Provision for Salary<\/title>\n<meta name=\"description\" content=\"Latest Guide on Section 192 of Income Tax Act 1961 - TDS on Provision for Salary. 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