https://www.taxtmi.com/circulars?id=3085 The circular prescribes the operational scheme for deduction of tax at source from salaries under section 192 for FY 2007-08: employers must estimate annual salary (including taxable perquisites), compute tax at applicable category rates, deduct tax on average at each payment, and may elect to pay tax on non monetary perquisites on behalf of employees. It sets compliance obligations-TAN/PAN quoting, issuance of Forms No.16/16AA and No.12BA, electronic filing of Form No.24Q, deposit rules, penalties for non-compliance-and explains valuation rules, permitted exemptions, and Chapter VI A deduction treatment, with illustrative computations and adjustment provisions for excess or shortfall within the financial year. en-us Wed, 05 Dec 2007 00:00:00 +0530 Mon, 11 Aug 2008 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=3085 The circular prescribes the operational scheme for deduction of tax at source from salaries under section 192 for FY 2007-08: employers must estimate annual salary (including taxable perquisites), compute tax at applicable category rates, deduct tax on average at each payment, and may elect to pay tax on non monetary perquisites on behalf of employees. It sets compliance obligations-TAN/PAN quoting, issuance of Forms No.16/16AA and No.12BA, electronic filing of Form No.24Q, deposit rules, penalties for non-compliance-and explains valuation rules, permitted exemptions, and Chapter VI A deduction treatment, with illustrative computations and adjustment provisions for excess or shortfall within the financial year. Circulars Income Tax Wed, 05 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=3085