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of <h1>Section 192 Income Tax Act requires employers deduct tax from salary payments based on estimated annual income rates</h1> Section 192 of the Income Tax Act, 1961 mandates tax deduction at source from salary payments. Employers must deduct income tax at the time of payment based on average rates computed for the financial year on estimated salary income. The provision covers monetary perquisites and allows employers to pay tax on non-monetary perquisites without deduction. Special provisions exist for start-ups regarding employee stock options with deferred tax payment timelines. Employees with multiple employers or additional income sources can furnish details for adjusted deductions. The section includes provisions for provident fund withdrawals, superannuation fund payments, and foreign currency salary calculations, with various procedural requirements for compliance.
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