Salary withholding tax is consolidated under a single framework covering perquisites, employee declarations, taxable fund balances and foreign-currency salary.

Section 392 consolidates withholding-tax rules for salary, non-monetary perquisites, employee declarations, taxable fund payments and foreign-currency salary. Salary tax is deducted at payment using the average rate based on estimated annual salary income. Employers may bear tax on taxable non-monetary perquisites, must obtain evidence for employee claims, furnish prescribed perquisite details, and may adjust excess or short withholding during the tax year. Trustees must deduct tax from specified taxable provident fund, superannuation fund and Employees' Provident Fund payments. The restructuring is primarily consolidatory and renumbering-based, without substantive change.

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