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<h1>Guidelines for Income Tax Deduction from Salaries for FY 2004-2005 u/s 192 of Income-tax Act.</h1> The circular provides guidelines for income tax deduction from salaries under Section 192 of the Income-tax Act, 1961, for the financial year 2004-2005. It outlines tax rates based on income brackets and details the surcharge and education cess applicable. Employers are responsible for deducting tax at source, with provisions for non-monetary perquisites and multiple employers. The document explains various deductions, exemptions, and rebates available under different sections, including those for housing loans, medical expenses, and specific allowances. It emphasizes compliance with documentation requirements, such as TDS certificates and annual returns, and highlights penalties for non-compliance.