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<h1>Income Tax Deduction Guidelines for Salaries: Section 192, FY 2005-2006, Including Special Rates for Women and Seniors.</h1> The circular outlines the rules for income tax deduction from salaries for the financial year 2005-2006 under Section 192 of the Income Tax Act, 1961, as per the Finance Act, 2005. It specifies tax rates based on income brackets and provides separate rates for women and senior citizens. It details the method of tax calculation, including deductions for various investments and expenses under Chapter VI-A, such as insurance premiums, provident fund contributions, and housing loan repayments. The circular also covers tax deductions on non-monetary perquisites, relief for salary paid in arrears, and procedures for tax deduction at source (TDS) compliance, including the issuance of TDS certificates and filing of returns.