Deduction of Income tax for the FY 2024-25 – Guidelines emphasizing early start, arrears, proof submission, and system automation.

-

 Deduction of Income tax for the FY 2024-25 – Guidelines emphasizing early start, arrears, proof submission, and system automation.

Principal Controller of Defence Accounts (Central Command) 1 Cariappa Road,
Lucknow Cantt.— 226002

No. AN/Pay/1/Circular.2024-25

Date: 06.03.2024

To,
The Officer in4 Charge
All Section of Main Office
All sub Office under the PCDA (CC) Lucknow

Sub: Deduction of Income tax for the FY 2024-25.

***

As per Section 192 of income Tax Act- Any salary disbursing authority shall, at the time of Payment, deduct income tax on the amount payable at the average rate of Income Tax Computed on the basis of the rates of Tax in force or the financial year in which payment is made, on the estimated income of the assesse under this Head for the Financial Year.

2, On account of aforesaid provisions and order to avoid last hour rush at the end of the Financial Year it is directed that he income tax in the FY 2024-25 may be deducted in the following manner:

  1. Income tax deduction will be started in the Pay bill of the month of 03/24 based on 01/12 of the Tax liability of the expected in current year i.e., 2024-25, However IT deducted from arrears due to pay fixation/MACP/NFU can be excluded from the said assessment.
  2. During the financial year 2024-25, if any arrear of pay will be paid, IT will be deducted as per the officer/individual at the time of the payment.
  3. The deduction of income tax from RPB may be changed at any time as per request of the officer/individual but only upon receipt of valid proof of documents.
  4. Proof of saving during current financial year may be collected along with Form-12BB, Annexure- IIA by concerned sub-office/Sections of Main Office and forwarded to this section/office with covering letter on fortnightly basis (i.e., 5th to 20th every month) required. The same can be forwarded through official email ID and will be accepted.
  5. Income Tax calculation will be done as per average basis by the system as per liability during the F.Y. 2024-25 and accordingly Income Tax deduction will be changed on submission of savings proof automatically by the system.

Sr. Accounts Officer (AN Pay-I)

Encls: Form 12 BB, Annexure- IIAView/Download the PDF 


Comments

Post a Comment

Popular posts from this blog

Approval of the Government of India for extending the benefits of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to all senior citizens aged 70 years and above.National Health Authority L.S. CHANGSAN (I.A.S.) Chief Executive Officer D. O. No. S-12018/395/2022-NHA 20th September, 2024

-
Image
  National Health Authority This is to inform you of the approval of the Government of India for extending the benefits of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) to all senior citizens aged 70 years and above. 2. Salient features of the approval are as below: a. The benefits of AB PM-JAY would now be available to all senior citizens of the age 70 years and above irrespective of their socio-economic status. These benefits will be available to senior citizens of 70 years and above in families already covered under AB PM-JAY (hereinafter referred to as ‘existing families’), as well as in families which are not covered under the AB PM-JAY, (hereinafter referred to as ‘new families’). b. The only eligibility criteria for availing benefits under the scheme would be attainment of age of 70 years or above by the individual. This would be determined on the basis of age recorded in Aadhaar. As per prevailing practice, Aadhaar would be the only document requi
Read more

Grant of notional increment on 1st July I 1st January to the employees who retired from Central Govt, service on 30th June / 31st December respectively for the purpose of calculating their pensionary benefits - regarding.

-
Image
  Grant of notional increment on 1st July/1st January to the employees who retired from Central Govt. service on 30th June / 31st December respectively for the purpose of calculating their pensionary benefits – Implementation Order by DoP&T O.M. dated 14.10.2024 No.19/116/2024-Pers.Pol.(Pay)(Pt) Government of India Ministry of Personnel, Public Grievances & Pensions Department of Personnel & Training North Block, New Delhi Dated the 14th October, 2024. OFFICE MEMORANDUM Subject: Grant of notional increment on 1st July/1st January to the employees who retired from Central Govt.service on 30th June / 31st December respectively for the purpose of calculating their pensionary benefits – regarding. The undersigned is directed to say that in terms of Rule 10 of the Central Civil Services (Revise Pay) Rules, 2006, notified by D/o Expenditure vide Notification No.G.S.R.622 (E) dated 29.08.2008, date of annual increment was made uniform viz. 1st July of every year with effect from 0
Read more