https://www.taxtmi.com/circulars?id=4596 Deduction of tax at source from salaries for 1976-77 applies to salaries paid or payable on or after 1 April 1976 per the Finance Bill, 1976 rates; no deduction unless estimated salary exceeds the threshold. Employer provided perquisites are to be valued and included in estimated salary. Standard deduction for employment expenditure is allowed subject to percentage, ceiling and limitations where conveyance allowance or employer provided vehicles apply. Specified investment deductions and an education expenditure deduction are allowable subject to overall limits. House Rent Allowance is exempt only to the extent of actual rent paid within prescribed limits and evidenced. Donations are not deductible at source except limited treatment for specified national funds. Rounding rules and statutory penalties for failure to deduct or pay tax apply. en-us Thu, 25 Mar 1976 00:00:00 +0530 Thu, 31 Jul 2008 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4596 Deduction of tax at source from salaries for 1976-77 applies to salaries paid or payable on or after 1 April 1976 per the Finance Bill, 1976 rates; no deduction unless estimated salary exceeds the threshold. Employer provided perquisites are to be valued and included in estimated salary. Standard deduction for employment expenditure is allowed subject to percentage, ceiling and limitations where conveyance allowance or employer provided vehicles apply. Specified investment deductions and an education expenditure deduction are allowable subject to overall limits. House Rent Allowance is exempt only to the extent of actual rent paid within prescribed limits and evidenced. Donations are not deductible at source except limited treatment for specified national funds. Rounding rules and statutory penalties for failure to deduct or pay tax apply. Circulars Income Tax Thu, 25 Mar 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4596