Reference is invited to Circular No.08/2010 dated 13.12.2010 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192 of the Income-tax Act, 1961 (hereinafter ‘the Act’), during the financial year 2010-2011, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2011-2012 and explains certain related provisions of the Income-tax Act. The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department.
Government of India, Ministry of Finance, Department of Revenus, Central Board of Direct Taxes has issued the circular regarding Deduction of Tax at Source- Income Tax Deduction from Salaries under Section 192 of the Income Tax Act, 1961 for the Financial Year 2011-12. It is the responsibility of each and every person who is responsible as Drawing and Disburssing Officer (D.D.O) to deduct tax at source as per rules on any payments paid under the Head "salaries". The Income Tax should be calculated on estimated income during the financial year and perportionate tax is to be deducted.
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