WebDec 10, 2024 · CBDT Issued a circular regarding TDS on salaries under the section 192. Circular No. 04/2024 dated 15.03.2024 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 2024-22, were intimated. WebCIRCULAR NO. 23/2024 F. No. 370142/48/2024-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) **** Dated the 3rdof November, 2024 EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2024 2 CIRCULAR INCOME-TAX ACT
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WebWe can compute His TDS on salary for FY 2024- 20 under section 192 per month as follows: As per section 192, his TDS on salary as per the current slab rate will be Rs.1,42,500. After adding 4% education and higher education cess (i.e. Rs.5,700), the net tax payable becomes Rs.1,48,200. WebDec 9, 2024 · CBDT issues circular on TDS from salaries for Financial Year 2024-23. The Central Board of Direct Taxes (CBDT) has issued a circular for the deduction of tax at source from salaries. CBDT has explained the … ipad computers
CBDT Circular on TDS from Salary under section 192 …
WebApr 12, 2024 · Not doing proper tax planning will lead to higher TDS from salary income and reduce the take-home pay. Do note that from FY 2024-24, the new tax regime has … WebDec 5, 2015 · Central Board of Direct Taxes (CBDT) has issued a circular which 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). Webat source (TDS) on salary income of a person under section 192 of the Act as the deductor, being an employer, would not know if the person, being an employee, would opt out from taxation under sub-section (1 A) of section 115BAC ofthe Act or not. ipad computer mount