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<h1>Guidelines for Tax Deduction from Salaries for FY 2001-2002 u/s 192: Rates, Exemptions, and Compliance.</h1> The circular outlines the procedures for tax deduction at source from salaries for the financial year 2001-2002 under Section 192 of the Income-tax Act, 1961. It specifies the rates of income tax, exemptions, and applicable surcharges. Employers must deduct tax based on estimated salary income, considering exemptions like house rent allowance and medical reimbursements. The document also details the responsibilities of employers regarding tax deductions, issuance of TDS certificates, and compliance with filing requirements. It includes guidelines for calculating perquisites and deductions under various sections, providing examples for clarity. Penalties for non-compliance with tax deduction rules are also highlighted.