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<h1>Guidelines for Salary Tax Deductions FY 2017-18: Section 192, Income Tax Act 1961; Rates, Exemptions, and Penalties.</h1> The circular outlines the tax deduction process from salaries for the financial year 2017-18 under Section 192 of the Income Tax Act, 1961. It specifies the applicable tax rates for different income brackets, including special rates for senior citizens. It also details the surcharge and education cess applicable on income tax. The document provides guidelines for employers on calculating and deducting tax at source, considering various exemptions and deductions under Chapter VI-A of the Act. It includes instructions for filing TDS returns, issuing Form 16, and handling non-monetary perquisites. The circular emphasizes compliance with PAN requirements and outlines penalties for non-compliance.