Salary withholding consolidation retains employer, employee, provident fund, and foreign-currency compliance while reorganising the applicable framework.

Section 392 requires salary tax deduction at the time of payment at the average rate applicable to the employee's estimated tax-year salary income. Employers may pay tax on taxable non-monetary perquisites, subject to treatment as tax deducted at source. Employees may provide prescribed income, relief, house-property loss and tax-credit particulars, while employers must verify claims, furnish perquisite details and adjust withholding for earlier excesses or shortages. The provision also covers eligible start-up employee share taxation, taxable provident and superannuation fund payments, taxable EPF withdrawals, and foreign-currency salary conversion.

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