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Archive for January, 2015

Tamil Nadu Labour Welfare Fund Contribution Hiked Effective Jan 2015

As per a recent gazette notification issued by the government of Tamil Nadu, the Labour Welfare Fund (LWF) contribution has been increased as follows. Employee Contribution: Rs 10 per annum Employer Contribution: Rs 20 per annum The increase in LWF contribution is effective January 2015. You can view the gazette notification here. Please ensure that […]

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Rounding off salary while calculating TDS

I draw your attention to Point e under “Certain essential points regarding the…..” in section 4.6.1 in the salary TDS circular for FY 2014-15. http://www.incometaxindia.gov.in/communications/circular/circular17_2014.pdf This point seems to state that the total taxable income should be displayed, without it being rounded off to the nearest 10 rupees, in Form 24Q4 (annexure II) and tax […]

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