Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income Tax Exemption Limit Raised to Rs. 8,000; Employers Must Adjust Excess Deductions for 1975-76 Financial Year.</h1> The Finance (Amendment) Act, 1975 raised the income tax exemption limit from Rs. 6,000 to Rs. 8,000. Employers initially deducted taxes based on the old limit, causing excess deductions for employees earning below Rs. 8,000. To address this, employers are allowed to adjust these excess deductions in future tax deduction bills for the financial year 1975-76. Employers must revise monthly returns and provide certificates ensuring employees are reimbursed for excess deductions. This adjustment process is applicable only to non-government employers for the specified financial year.
TaxTMI 
TaxTMI 
