Tax deduction at source on salary: apply Finance Bill 1970 rates with specified deductions, travel allowances, rounding and penalties. Directives require employers to deduct tax at source from salaries for 1970-71 at Finance Bill rates, subject to a non-deduction threshold; permit specified proportions of life insurance, provident fund and certain post-office deposits as deductions within an aggregate cap; allow adjustments for profession tax and prescribed travel allowances while excluding donations and books from source deduction; prescribe rounding rules and the treatment of conveyance allowance; and warn of criminal and monetary penalties for failure to deduct or remit tax, with an annex containing the rate schedule and surcharge.