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of <h1>New Tax Deduction Rules: 2% Surcharge Introduced, Special Deductions for Gujarat Earthquake Relief Donations u/s 80G.</h1> The circular outlines the updated instructions for tax deduction at source from salaries for the financial year 2000-2001, following the Taxation Laws (Amendment) Ordinance, 2001. An additional 2% surcharge is introduced, with a 12% surcharge on income exceeding sixty thousand rupees up to one lakh fifty thousand rupees, and 17% on income above that. Both resident and non-resident assessees are liable. Donations for earthquake relief in Gujarat qualify for 100% tax deduction under section 80G. Employers may deduct donations from salaries, provided payments are made by April 15, 2001, and receipts are issued to employees.
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