CBDT releases circular on tax deduction from salaries for financial year 2014-15

Posted Date : 10-Dec-2014 , 09:44:42 pm | Posted By CASANSAAR print

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CIRCULAR NO : 17/2014

F.No. 275/192/2014-IT(B)

Government of India

Ministry of Finance

Department of Revenue

Central Board of Direct Taxes

******

North Block, New Delhi

Dated 10th December, 2014

SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2014-15 UNDER SECTION 192 OF THE INCOME TAX ACT, 1961.

Reference is invited to Circular No.08/2013 dated 25.10.2013 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 2013-14, 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 2014-15 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.

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