| Dear All, A contractor is employing contract labours in piece rate basis, suppose a particular contract labour earns the wages for the period July-07 to June-08 exceeds the exemption amount of income tax i.e Rs.110000. say particular employee earns wages for the period July-07 to June-08 as Month Wages Rs. Jul-07 20,201 Aug-07 18,006 Sep-07 19,000 Oct-07 15,000 Nov-07 17,000 Dec-07 20,201 Jan-08 13,000 Feb-08 18,000 Mar-08 20,201 Apr-08 15,000 May-08 14,890 Jun-08 18,900 Total wages is 209,399 Can the contractor able to deduct income tax now ( in oct-08) for the financial year 2007-08 taking Rs.110000 exempted amount? Warm Regards, Jey
|
|
