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Tuesday, October 22, 2013

Income-Tax Deduction from Salaries during the Financial Year 2013-14: IT Circular No. 08/2013 Part-I

Income-Tax Deduction from Salaries during the Financial Year 2013-14: IT Circular No. 08/2013 Part-I

CIRCULAR NO : 08 /2013
F.No. 275/192/2013-IT(B)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

New Delhi, dated the 10th October, 2013

SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2013-14 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961.

Reference is invited to Circular No.08/2012 dated 05.10.2012 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 2012-2013, 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 2013-2014 and explains certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules). The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department- www.incometaxindia.gov.in.

Source: www.finmin.nic.in
 & www.incometaxindia.gov.in [Clik here to download circular.pdf file]

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