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Salaried Employees Have to Submit Investment & Expenditure Proofs to Avoid Full TDS on Salary
TDS on salary: The income tax rules have changed in recent years. Due to this, not all salaried employees now have to submit investment and expenditure proofs to avoid full tax on salary. Employers have sent emails to the employees reminding them to submit tax-saving proofs to avoid higher tax deduction from salary.
Many employers are now sending emails to their employees asking them to submit tax-saving investment and/or expenditure proofs to them in case the employee wants to save tax. The submission of these proofs is important to avoid full tax deduction at source (TDS) on salary. Usually, employees have time till March to submit tax-saving proofs to the employer. However, it is advisable to submit these investment/expenditure proofs as soon as possible. Till these proofs are submitted, the employer. However, it is advisable to submit these investment/expenditure proofs as soon as possible. Till these proofs are submitted, the employer will deduct full tax due from the salary without taking into account the tax-saving investment/expenditure. According to tax experts, not all employees are required to submit investment proofs.
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