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of <h1>Guidelines for Salary Tax Deduction in FY 1980-81 u/s 192: Thresholds, Perquisites, and Compliance Details.</h1> The circular issued by the Director of Income Tax outlines the guidelines for deducting income tax from salaries during the financial year 1980-81 under section 192 of the Income-tax Act, 1961. It specifies that no tax should be deducted if the estimated salary is below Rs. 12,000, with marginal relief for slight excesses. It details the valuation of perquisites, treatment of dearness allowance, and standard deductions. The circular also explains deductions under sections 80C, 80U, and 80RRA, among others, and emphasizes compliance with tax deduction procedures, including the use of specific chalans for depositing deducted taxes.
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