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of <h1>Employers Must Deduct Income Tax Under Section 192 for 2009-2010 Salaries with Specified Slabs and Rules</h1> Employers are required to deduct income tax at source from salary payments under Section 192 of the Income-tax Act, 1961, for the financial year 2009-2010, based on specified income slabs differentiated by age and gender. Tax is calculated on estimated salary income including perquisites, with provisions allowing employers to pay tax on non-monetary perquisites directly. Employees with multiple employers must provide income details for aggregate tax deduction. Various exemptions and deductions under sections 10, 16, and Chapter VI-A apply, including allowances for house rent, insurance premiums, and investments. Employers must furnish TDS certificates, maintain PAN and TAN compliance, and file quarterly electronic TDS returns. Failure to deduct or deposit tax timely attracts interest, penalties, and prosecution. Specific rules govern valuation of perquisites, arrears, pension income, and foreign currency salaries. The circular also addresses relief for arrears, new pension schemes, and procedural obligations for tax deduction and reporting.
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