Income Tax Deduction from Salaries during FY 2015-16 AY 2016-17: Circular No. 20/2015
CIRCULAR NO : 20/2015
Authority: http://www.incometaxindia.gov.in/communications/circular/circular20_2015.pdf
F.No. 275/192/2015-IT(B)
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
******
North Block, New Delhi
Dated the 2nd December, 2015
SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2015-16 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961.
Reference is invited to Circular No.17/2014 dated 10.12.2014 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 2014-15, 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
2015-16 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.
2. RATES OF INCOME-TAX AS PER FINANCE ACT, 2015
3. SECTION 192 OF THE INCOME-TAX ACT, 1961: BROAD SCHEME OF TAX DEDUCTION AT SOURCE FROM "SALARIES"
4. PERSONS RESPONSIBLE FOR DEDUCTING TAX AND THEIR DUTIES
Authority: http://www.incometaxindia.gov.in/communications/circular/circular20_2015.pdf
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