The Income Tax Department has issued a Circular No. 08/13 dated 10.10.2013 in respect of "Income Tax payment and deductions of payment issued to Salaried Employee for the Asstt. Year 2014-15. In this circular all the deductions and claims are mention related with salary and arrears etc.
As per the Finance Act, 2013, Income Tax is required to be deducted under Section 192 of the Act from Income Chargeable under the head "Salaries" for the Fin. Year 2013-14 (i.e. Asstt. Year 2014-15).
For the purpose of making the payment of tax below Income Tax Excel Utility Calculate average of Income Tax computed on the basis of rate in force for the Fin. Year, on the Income chargeable under the head "salaries" including the value of perquisits for which tax has been paid by the employer hemself.
As per the Finance Act, 2013, Income Tax is required to be deducted under Section 192 of the Act from Income Chargeable under the head "Salaries" for the Fin. Year 2013-14 (i.e. Asstt. Year 2014-15).
For the purpose of making the payment of tax below Income Tax Excel Utility Calculate average of Income Tax computed on the basis of rate in force for the Fin. Year, on the Income chargeable under the head "salaries" including the value of perquisits for which tax has been paid by the employer hemself.
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