Deduction at source from salaries: employer duty to deduct on estimated annual salary, with perquisite valuation and exemptions. Employers must deduct income tax at source from salaries during 1984-85 under section 192 on the assessee's estimated annual salary at the average rate in force, with no deduction required unless estimated salary exceeds the statutory threshold. Perquisites and concessions must be valued under the Rules; specified receipts and exemptions (gratuity, leave salary, certain repayments) are treated per law. Standard deduction, limits on investment linked deductions, special allowances, rent related reliefs, foreign remuneration relief conditions, disability deduction certification, rounding rules, challan and deposit procedures, and penalties for failure to deduct or pay are summarized for disbursing authorities.
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Deduction at source from salaries: employer duty to deduct on estimated annual salary, with perquisite valuation and exemptions.
Employers must deduct income tax at source from salaries during 1984-85 under section 192 on the assessee's estimated annual salary at the average rate in force, with no deduction required unless estimated salary exceeds the statutory threshold. Perquisites and concessions must be valued under the Rules; specified receipts and exemptions (gratuity, leave salary, certain repayments) are treated per law. Standard deduction, limits on investment linked deductions, special allowances, rent related reliefs, foreign remuneration relief conditions, disability deduction certification, rounding rules, challan and deposit procedures, and penalties for failure to deduct or pay are summarized for disbursing authorities.
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