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of <h1>Income Tax Deduction Adjustments for Non-Government Employees: New Exemption Limit Raised to Rs. 12,000 (1980-81).</h1> The circular addresses adjustments in income tax deductions for non-government employees during the financial year 1980-81. Due to the Finance (No.2) Act, 1980, the exemption limit for taxable income increased from Rs. 10,000 to Rs. 12,000. To mitigate hardship for employees previously taxed under the old limit, employers are allowed to adjust excess tax deducted from employees earning between Rs. 10,000 and Rs. 12,000 against future deductions. Employers must revise monthly returns and provide certificates indicating excess deductions and reimbursements. These instructions apply exclusively to non-government employees for the specified financial year.
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