At the start of a financial year, based on what an employee declares, the employer takes out tax deducted at source (TDS) from the employee's salary. In simple terms, the employer has to deduct tax from the employee's salary whenever they make a payment, whether it's the monthly salary, bonuses, allowances, or any taxable perks.
But keep in mind that this TDS deduction isn't a one-size-fits-all percentage for every employee. Keep reading to learn more about how TDS is deducted from salary and what happens for CTCs of Rs 15 lakh, Rs 20 lakh and Rs 25 lakh. Also note that the ITR filing due date for Salaried, pensioners, students and others who are not required to conduct an income tax audit is on or before July 31, 2027. For AY 2026-2027, the ITR filing due date is July 31, 2026.
