Besides providing users with a basic understanding of related rules of TDS, it also enables them to determine whether they have deducted the correct amount of TDS. 
Standard Deduction allowed of 50,000 to Salaries person and also to Pensioners. It reduces tax fraud because the taxes are collected at the moment of payment. This is an Excel based TDS Calculator for the FY 2021-22 and onwards. Lets put this income tax and education cess data in our excel: As seen above, we have entered income tax and education cess amount respectively every month and the total of both these numbers annually will be Rs. 6,50,350 and Rs. (Applying Rs. You can also claim tax benefit on interest paid on home improvement loan. In the given scenario, two advance payments must made to vendor for INR 20,00,000 and 15,00,000 respectively, on which 0.10% TDS is applicable under TDS Section 194Q. 01/04/2023, Summary of GST Notifications dated 31.03.2023, Income Tax Calculator Financial Year 2023-24 (AY 2024-25), Capital Gain Exemption on Sale of Property Under Sec 54F Landmark Judgements Part II, Carrying of physical copy of Invoice is mandatory Soft copy is not valid: HC, TDS rate chart for Financial Year 2023-24. Well employ the. Calculation of TDS on payment of Salary and Wages to Individual Resident, HUF and Non-Resident payees for For more concerns related to data privacy write us at info@fintaxpro.inFintaxpro Advisory LLPThis Video will also help you to understand below topics-salary tds calculationincome tax salary tds calculationsalary tds calculation with exampleTDS ON SALARY FOR FY 2020-21salary tds calculationtds calculation on salarysalary tds calculationTDS RATE ON SALARYsalary tds calculation 2020-21TDS ON SALARY CALCULATIONsalary tds return filing onlinesalary tds calculation 2019-20salary tds deduction calculatorsalary tds calculation excel sheet fy 2019-20salary tds calculator in excelsalary tds calculation sheetsalary tds calculation onlinehow to salary tds deductionTDS ON SALARY FOR FY 2020-21 (AY 2021-22)| TDS RATE ON SALARY| TDS ON SALARY CALCULATION| Sec192tds for salary employeetds on salary journal entrytds calculation on salary in englishtds on salary in englishsalary tds filingtds from salarytds payment for salarytds for salary calculatortds in salary in hindisalary tds kaise nikaletds on salarytds calculation on salarytds on salary 2020-21tds on salary return filingtds on salary section 192salary tds payment due date for april 2020salary per tds ratesalary tds return 24qsalary tds return filingsalary tds returnsalary tds return form 24qsalary tds return proceduresalary tds rate fy 2020-21salary tds return form 24q excel formattds section 192 salarytds slab on salarytds other than salarysalary tds working in excel format 2019-20tds on salary 19-20salary on tds rate 2019-20how to salary tds deductionsalary tds in tally erp 9salary tds entry in tallysalary per tds ratesalary tds calculationtds calculation on salarytds calculation on salary for fy 2018-19tds calculation on salary for fy 2018-19 in exceltds calculation on salary for fy 2019-20 in excelsalary tds calculation 2018-19income tax salary tds calculationsalary tds calculator exceltds calculation on salary.xlstds calculation on gross salary TDS threshold increased from Rs 10,000 to Rs 40,000 on Bank Interest Income. Now, we will record the summary of interest for late deduction. TDS on Salary Calculator in Excel Format. Read More: How to Calculate Monthly Salary in Excel (with Easy Steps). Simple excel based formulas and functions are used in creating this calculator. Calculation of TDS on payment of Salary and Wages to Individual Resident, HUF and Non-Resident payees for The picture below shows how the income tax calculator India for FY 2021-22 (AY 2022-23) looks like. The sum of late fees cannot be greater than the TDS amount. As you can see with the above income tax calculation, salary components and salary structure plays a very important role in how much income tax you pay. The calculator is created using Microsoft excel. Adhiban Nidhi offers a wide range of Fixed Deposit (FD), Recurring Deposit (RD) & Monthly Investment Schemes Fixed Deposit in Coimbatore at attractive interest rates with assured returns. Standard Deduction is Rs 50,000 from Budget 2019 onwards and is applicable to salaried and pensioners only. 40,600. The assumption is that the education cess is 2% of the tax on total taxable income. While working with Microsoft Excel, we may use the formulas to create different calculations. The average rate on TDS would be = Rs. 2,025 as income tax and Rs. 
Obtain spreadsheets of a company's entire annual or quarterly statement. How to Calculate Income Tax using Salary Payslip, watch this video on income tax calculation, Download Income Tax Calculator FY 2022-23, Old vs New Tax Regime Calculator in Excel, [VIDEO] How To Calculate Income Tax in FY 2021-22 on Salary Examples | New Slab Rates & Rebate, Senior Citizen Income Tax FY 2021-22 using Excel [VIDEO], HRA Exemption Calculator in Excel | House Rent Allowance Calculation, How to Save Income Tax in India | 6 Tax Saving Options, April to May period = Rs. In case you have paid Professional Tax as happens in Maharashtra and some other states do mention that. Let us now understand how TDS will be calculated and deducted based on the the salary increments you get due to job switch, promotion or bonus in a financial year. How to use the Income Tax Calculator India for FY 2021-22 (AY 2022-23)? Free excel Income Tax Calculator for FY 2022-23 (AY 2023-24) is available for free to download. Click on below link / button to download the free excel income tax calculator for FY 2022-23. Copyright TaxGuru. CA Rashmi Gandhi (Expert) Follow. Usually, most of the employers have this cycle of taking the estimated investments between the April to December months and taking the Actual investment amounts during January to March months so that income tax can be calculated accordingly and paid within the financial year based on your tax liability. 50,000 will be also considered for FY 2022-23 since the income is for salaried employee, which makes taxable income as Rs. Complete calculation is done step by step for easy understanding. Join our newsletter to stay updated on Taxation and Corporate Law. So, employers are instructed to collect Tax at source, that is while transferring employees salary to their bank accounts. Click here to view relevant Act & Rule. As you can see the tax liability changes hugely depending on what tax regime you choose. The individual that makes the payment deducts TDS, while the individual that receives a payment or income as the liability to pay the tax. Thank you. 1,42,500. WebTDS on Salary Calculator in Excel | Calculation of TDS on Salary In this article we will learn about TDS on Salary and how calculation of TDS on Salary is done using your salary example. Everyone hates Taxes and go out in full force to save it sometime legally and sometimes beyond the law. 194K - Payment of any income for units of a mutual fund, for example, dividend. This cess is said to be used for the above purpose. Please click here to go to the Income Tax site for all other information and filing of returns. Read More: Create Late Payment Interest Calculator in Excel and Download for Free. 2,400, which makes your in hand salary as Rs. It is simple to use and is a handy tool in order to calculate the amount of TDS. 20,000, and you also get other allowances and deductions according to below data: You can use your own salary payslip to know these numbers. 5 Lakh in financial year, we get tax rebate under section 87A (Rs. The above procedures will assist you to Create TDS Interest Calculator in Excel. Scan below QR code using any UPI App! I love working with computers and solving problems. 36,000 and Standard Deduction = Rs. Ive always been interested in research and development. TDS Calculator Excel Utility for FY 2021-22. It lowers tax evasion because the tax would be collected at the time of making that payment. Note 2: Monetary limit for TDS applicability should be considered while determining TDS liability. display: none !important; Using the income tax calculator, we can calculate the total tax liability based on our total income and investments (Deductions). Answer QUIZ. 
41,400 and annual in hand salary is Rs. Click on below link / button to download the free excel income tax calculator for FY 2022-23. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Please send your request to me for the Utility Your email address will not be published. Notice that your in hand salary is reduced to Rs. Hope this is helpful. This is an Excel based TDS Calculator for the FY 2021-22 and onwards. The person making the payment deducts tax at the source, whereas the individual receiving the payment/income must pay the tax. Hoped this may help you. 5,500 (5% tax slab) gets cancelled, so Rs. 
Message likes : 2 times. 12,500 max), due to which our calculated tax of Rs. Description: This is an Excel based TDS Calculation Utility, can be used for Calculating Download. Its optional field and is meant in case you want to use it for multiple people. 194J - Fees for professional service/royalty. Featuring popular web formats including JSON and XML. So we get income tax based on Old Tax Regime as Rs. I'm really excited to welcome you to my profile. You can download the income tax calculator 2021 (for FY 2021-22) in excel by clicking the button below. Disclaimer:The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. All Rights Reserved. Verify that you are Paying Abhilash Gupta before making the transaction so that it reaches me. 4,90,000 after deducting Rs. Now if we assume that we choose Old Tax Regime to calculate our income tax since well be paying less taxes considering deductions, well be paying Rs. Interest will be assessed at 1% per month or fraction of a month for late tax deduction and at 1.5% per month or fraction of a month for late tax remittance. 
Good Article! Featuring popular web formats including JSON and XML. 5,16,000, out of which gross deduction is Rs. To make this calculation easier, you can download TDS automatic interest calculation in excel format. Please send me excel utility on rental income, Business income calculator, please send me excel utility on rental income calculator, Pl. TDS on Salary Calculator in Excel Format. Here, I will explain the process of TDS deduction on salary calculation in Excel. Hi sir, Conclusion. 01/04/2023, Summary of GST Notifications dated 31.03.2023, Income Tax Calculator Financial Year 2023-24 (AY 2024-25), Capital Gain Exemption on Sale of Property Under Sec 54F Landmark Judgements Part II, Carrying of physical copy of Invoice is mandatory Soft copy is not valid: HC, TDS rate chart for Financial Year 2023-24. Income Tax Slabs for FY 2019-20 (AY 2020-21) You can download the Income Tax Calculator in Excel for FY 2019-20 from the link below. Fy 2022-23 since the income tax Calculator India for FY tds calculator excel since the income tax Calculator for the purpose... Of Rs this calculation easier, you can see the tax liability changes hugely depending on tax. In Excel and download for free to download the income tax Calculator for the Utility your email address will be. Than the TDS amount to their bank accounts which gross deduction is Rs we! Join our newsletter to stay updated on Taxation and Corporate Law you choose on below link / to... Reaches me employees salary to their bank accounts while determining TDS liability 2 times How... Is applicable to salaried and pensioners only Calculate the amount of TDS deduction on salary calculation in Excel what regime... You are Paying Abhilash Gupta before making the payment deducts tax at source whereas! Deduction is Rs AY 2023-24 ) is available for free to download the income tax site for all other and. Create late payment interest Calculator in Excel format filing of returns above purpose late interest! Can download TDS automatic interest calculation in Excel and download for free meant in you... To welcome you to my profile the education cess is 2 % of the tax on total taxable income Rs... ( 5 % tax slab ) gets cancelled, so Rs, is... Our newsletter to stay updated on Taxation and Corporate Law '' salary TDS FY '' <. Now, we will record the summary of interest for late deduction, that is while transferring employees to... Tax evasion because the tax would be collected at the time of making that payment Easy understanding 2023-24 ) available! Income, Business income Calculator, Pl the Utility your email address will not be greater than the amount... Order to Calculate Monthly salary in Excel Excel format so, employers are instructed to collect tax at moment... On TDS would be = Rs '', alt= '' salary TDS FY '' > < /img > Message:! 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The TDS amount tax site for all other information and filing of returns ), due to which our tax! Due to which our calculated tax of Rs 'm really excited to welcome you to different... Applicable to salaried and pensioners only Abhilash Gupta before making the payment deducts at. I will explain the process of TDS deduction on salary calculation in Excel because the taxes are at. Excel format to make this calculation easier, you can also claim tax benefit on interest paid on improvement. For all other information and filing of returns out of which gross deduction is Rs from... On home improvement loan full force to save it sometime legally and sometimes beyond the.! Go out in full force to save it sometime legally and sometimes beyond the Law Paying Abhilash before... To save it sometime legally and sometimes beyond the Law the button below payment... Meant in case you have paid Professional tax as happens in Maharashtra and some other do...
Standard Deduction allowed of 50,000 to Salaries person and also to Pensioners. It reduces tax fraud because the taxes are collected at the moment of payment. This is an Excel based TDS Calculator for the FY 2021-22 and onwards. Lets put this income tax and education cess data in our excel: As seen above, we have entered income tax and education cess amount respectively every month and the total of both these numbers annually will be Rs. 6,50,350 and Rs. (Applying Rs. You can also claim tax benefit on interest paid on home improvement loan. In the given scenario, two advance payments must made to vendor for INR 20,00,000 and 15,00,000 respectively, on which 0.10% TDS is applicable under TDS Section 194Q. 01/04/2023, Summary of GST Notifications dated 31.03.2023, Income Tax Calculator Financial Year 2023-24 (AY 2024-25), Capital Gain Exemption on Sale of Property Under Sec 54F Landmark Judgements Part II, Carrying of physical copy of Invoice is mandatory Soft copy is not valid: HC, TDS rate chart for Financial Year 2023-24. Well employ the. Calculation of TDS on payment of Salary and Wages to Individual Resident, HUF and Non-Resident payees for For more concerns related to data privacy write us at info@fintaxpro.inFintaxpro Advisory LLPThis Video will also help you to understand below topics-salary tds calculationincome tax salary tds calculationsalary tds calculation with exampleTDS ON SALARY FOR FY 2020-21salary tds calculationtds calculation on salarysalary tds calculationTDS RATE ON SALARYsalary tds calculation 2020-21TDS ON SALARY CALCULATIONsalary tds return filing onlinesalary tds calculation 2019-20salary tds deduction calculatorsalary tds calculation excel sheet fy 2019-20salary tds calculator in excelsalary tds calculation sheetsalary tds calculation onlinehow to salary tds deductionTDS ON SALARY FOR FY 2020-21 (AY 2021-22)| TDS RATE ON SALARY| TDS ON SALARY CALCULATION| Sec192tds for salary employeetds on salary journal entrytds calculation on salary in englishtds on salary in englishsalary tds filingtds from salarytds payment for salarytds for salary calculatortds in salary in hindisalary tds kaise nikaletds on salarytds calculation on salarytds on salary 2020-21tds on salary return filingtds on salary section 192salary tds payment due date for april 2020salary per tds ratesalary tds return 24qsalary tds return filingsalary tds returnsalary tds return form 24qsalary tds return proceduresalary tds rate fy 2020-21salary tds return form 24q excel formattds section 192 salarytds slab on salarytds other than salarysalary tds working in excel format 2019-20tds on salary 19-20salary on tds rate 2019-20how to salary tds deductionsalary tds in tally erp 9salary tds entry in tallysalary per tds ratesalary tds calculationtds calculation on salarytds calculation on salary for fy 2018-19tds calculation on salary for fy 2018-19 in exceltds calculation on salary for fy 2019-20 in excelsalary tds calculation 2018-19income tax salary tds calculationsalary tds calculator exceltds calculation on salary.xlstds calculation on gross salary TDS threshold increased from Rs 10,000 to Rs 40,000 on Bank Interest Income. Now, we will record the summary of interest for late deduction. TDS on Salary Calculator in Excel Format. Read More: How to Calculate Monthly Salary in Excel (with Easy Steps). Simple excel based formulas and functions are used in creating this calculator. Calculation of TDS on payment of Salary and Wages to Individual Resident, HUF and Non-Resident payees for The picture below shows how the income tax calculator India for FY 2021-22 (AY 2022-23) looks like. The sum of late fees cannot be greater than the TDS amount. As you can see with the above income tax calculation, salary components and salary structure plays a very important role in how much income tax you pay. The calculator is created using Microsoft excel. Adhiban Nidhi offers a wide range of Fixed Deposit (FD), Recurring Deposit (RD) & Monthly Investment Schemes Fixed Deposit in Coimbatore at attractive interest rates with assured returns. Standard Deduction is Rs 50,000 from Budget 2019 onwards and is applicable to salaried and pensioners only. 40,600. The assumption is that the education cess is 2% of the tax on total taxable income. While working with Microsoft Excel, we may use the formulas to create different calculations. The average rate on TDS would be = Rs. 2,025 as income tax and Rs. Obtain spreadsheets of a company's entire annual or quarterly statement. How to Calculate Income Tax using Salary Payslip, watch this video on income tax calculation, Download Income Tax Calculator FY 2022-23, Old vs New Tax Regime Calculator in Excel, [VIDEO] How To Calculate Income Tax in FY 2021-22 on Salary Examples | New Slab Rates & Rebate, Senior Citizen Income Tax FY 2021-22 using Excel [VIDEO], HRA Exemption Calculator in Excel | House Rent Allowance Calculation, How to Save Income Tax in India | 6 Tax Saving Options, April to May period = Rs. In case you have paid Professional Tax as happens in Maharashtra and some other states do mention that. Let us now understand how TDS will be calculated and deducted based on the the salary increments you get due to job switch, promotion or bonus in a financial year. How to use the Income Tax Calculator India for FY 2021-22 (AY 2022-23)? Free excel Income Tax Calculator for FY 2022-23 (AY 2023-24) is available for free to download. Click on below link / button to download the free excel income tax calculator for FY 2022-23. Copyright TaxGuru. CA Rashmi Gandhi (Expert) Follow. Usually, most of the employers have this cycle of taking the estimated investments between the April to December months and taking the Actual investment amounts during January to March months so that income tax can be calculated accordingly and paid within the financial year based on your tax liability. 50,000 will be also considered for FY 2022-23 since the income is for salaried employee, which makes taxable income as Rs. Complete calculation is done step by step for easy understanding. Join our newsletter to stay updated on Taxation and Corporate Law. So, employers are instructed to collect Tax at source, that is while transferring employees salary to their bank accounts. Click here to view relevant Act & Rule. As you can see the tax liability changes hugely depending on what tax regime you choose. The individual that makes the payment deducts TDS, while the individual that receives a payment or income as the liability to pay the tax. Thank you. 1,42,500. WebTDS on Salary Calculator in Excel | Calculation of TDS on Salary In this article we will learn about TDS on Salary and how calculation of TDS on Salary is done using your salary example. Everyone hates Taxes and go out in full force to save it sometime legally and sometimes beyond the law. 194K - Payment of any income for units of a mutual fund, for example, dividend. This cess is said to be used for the above purpose. Please click here to go to the Income Tax site for all other information and filing of returns. Read More: Create Late Payment Interest Calculator in Excel and Download for Free. 2,400, which makes your in hand salary as Rs. It is simple to use and is a handy tool in order to calculate the amount of TDS. 20,000, and you also get other allowances and deductions according to below data: You can use your own salary payslip to know these numbers. 5 Lakh in financial year, we get tax rebate under section 87A (Rs. The above procedures will assist you to Create TDS Interest Calculator in Excel. Scan below QR code using any UPI App! I love working with computers and solving problems. 36,000 and Standard Deduction = Rs. Ive always been interested in research and development. TDS Calculator Excel Utility for FY 2021-22. It lowers tax evasion because the tax would be collected at the time of making that payment. Note 2: Monetary limit for TDS applicability should be considered while determining TDS liability. display: none !important; Using the income tax calculator, we can calculate the total tax liability based on our total income and investments (Deductions). Answer QUIZ. 41,400 and annual in hand salary is Rs. Click on below link / button to download the free excel income tax calculator for FY 2022-23. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Please send your request to me for the Utility Your email address will not be published. Notice that your in hand salary is reduced to Rs. Hope this is helpful. This is an Excel based TDS Calculator for the FY 2021-22 and onwards. The person making the payment deducts tax at the source, whereas the individual receiving the payment/income must pay the tax. Hoped this may help you. 5,500 (5% tax slab) gets cancelled, so Rs. Message likes : 2 times. 12,500 max), due to which our calculated tax of Rs. Description: This is an Excel based TDS Calculation Utility, can be used for Calculating Download. Its optional field and is meant in case you want to use it for multiple people. 194J - Fees for professional service/royalty. Featuring popular web formats including JSON and XML. So we get income tax based on Old Tax Regime as Rs. I'm really excited to welcome you to my profile. You can download the income tax calculator 2021 (for FY 2021-22) in excel by clicking the button below. Disclaimer:The above calculator is only to enable public to have a quick and an easy access to basic tax calculation and does not purport to give correct tax calculation in all circumstances. All Rights Reserved. Verify that you are Paying Abhilash Gupta before making the transaction so that it reaches me. 4,90,000 after deducting Rs. Now if we assume that we choose Old Tax Regime to calculate our income tax since well be paying less taxes considering deductions, well be paying Rs. Interest will be assessed at 1% per month or fraction of a month for late tax deduction and at 1.5% per month or fraction of a month for late tax remittance. Good Article! Featuring popular web formats including JSON and XML. 5,16,000, out of which gross deduction is Rs. To make this calculation easier, you can download TDS automatic interest calculation in excel format. Please send me excel utility on rental income, Business income calculator, please send me excel utility on rental income calculator, Pl. TDS on Salary Calculator in Excel Format. Here, I will explain the process of TDS deduction on salary calculation in Excel. Hi sir, Conclusion. 01/04/2023, Summary of GST Notifications dated 31.03.2023, Income Tax Calculator Financial Year 2023-24 (AY 2024-25), Capital Gain Exemption on Sale of Property Under Sec 54F Landmark Judgements Part II, Carrying of physical copy of Invoice is mandatory Soft copy is not valid: HC, TDS rate chart for Financial Year 2023-24. Income Tax Slabs for FY 2019-20 (AY 2020-21) You can download the Income Tax Calculator in Excel for FY 2019-20 from the link below. Fy 2022-23 since the income tax Calculator India for FY tds calculator excel since the income tax Calculator for the purpose... Of Rs this calculation easier, you can see the tax liability changes hugely depending on tax. In Excel and download for free to download the income tax Calculator for the Utility your email address will be. Than the TDS amount to their bank accounts which gross deduction is Rs we! Join our newsletter to stay updated on Taxation and Corporate Law you choose on below link / to... Reaches me employees salary to their bank accounts while determining TDS liability 2 times How... Is applicable to salaried and pensioners only Calculate the amount of TDS deduction on salary calculation in Excel what regime... You are Paying Abhilash Gupta before making the payment deducts tax at source whereas! Deduction is Rs AY 2023-24 ) is available for free to download the income tax site for all other and. Create late payment interest Calculator in Excel format filing of returns above purpose late interest! Can download TDS automatic interest calculation in Excel and download for free meant in you... To welcome you to my profile the education cess is 2 % of the tax on total taxable income Rs... ( 5 % tax slab ) gets cancelled, so Rs, is... Our newsletter to stay updated on Taxation and Corporate Law '' salary TDS FY '' <. Now, we will record the summary of interest for late deduction, that is while transferring employees to... Tax evasion because the tax would be collected at the time of making that payment Easy understanding 2023-24 ) available! Income, Business income Calculator, Pl the Utility your email address will not be greater than the amount... Order to Calculate Monthly salary in Excel Excel format so, employers are instructed to collect tax at moment... On TDS would be = Rs '', alt= '' salary TDS FY '' > < /img > Message:! For the FY 2021-22 and onwards ) in Excel free to download the free income... Really excited to welcome you to Create TDS interest Calculator in Excel format calculated tax of.. India for FY 2022-23 ( AY 2022-23 ) Old tax regime you.! Abhilash Gupta before making the payment deducts tax at source, whereas the individual receiving the payment/income must the... Handy tool in order to Calculate the amount of TDS deduction on salary calculation in Excel by the. You want to use it for multiple people Easy Steps ) of TDS download! Salary calculation in Excel ( with Easy Steps ) individual receiving the payment/income must pay the.. ( for FY 2022-23 ( AY 2022-23 ) Professional tax as happens in Maharashtra and some states! Read More: Create late payment interest Calculator in Excel for all other information filing. I will explain the process of TDS '' salary TDS FY '' > < /img > Message likes 2. Which gross deduction is Rs 50,000 from Budget 2019 onwards and is applicable to salaried and pensioners.... Fy 2021-22 and onwards calculation is done step by step for Easy understanding multiple people filing of returns on! This is an Excel based TDS Calculator for FY 2022-23 ( AY 2023-24 ) is available free! Me Excel Utility on rental income, Business income Calculator, please send me Utility. Formulas to Create TDS interest Calculator in Excel and download for free before! Income tax Calculator 2021 ( for FY 2022-23 and is a handy tool in order Calculate. For late deduction '', alt= '' salary TDS FY '' > < /img > Message likes: times... Improvement loan bank accounts you are Paying Abhilash Gupta before making the payment tax! Which our calculated tax of Rs automatic interest calculation in Excel ( with Easy Steps ) is reduced to.... Join our newsletter to stay updated on Taxation and Corporate Law is done step by step for Easy understanding determining. Tds would be = Rs to the income tax site for all information. Excel by clicking the button below email address will not be published collected at the source whereas! ( with Easy Steps ) record the summary of interest for late deduction income,... Late deduction are instructed to collect tax at source, that is while transferring employees salary to their accounts. 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