Monday, January 18, 2010

Income-tax deduction from salaries during the financial year 2009-2010 under section 192 of the Income-tax act, 1961

Highights of CBTD Circular CIRCULAR NO.1/2010
Method of tax calculation

Payment of tax on non-monetary perquisites by employer

Computation of average income tax

Relief when salary paid in arrear or advance:

Adjustment for excess or shortfall of deduction

TDS on payment of balance under provident fund and superannuation fund:

Persons responsible for deducting tax and their duties

Estimation of income under the head "salaries


Deductions under chapter vi-a of the act
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