https://www.taxtmi.com/circulars?id=4686 Employers may adjust tax previously deducted at source from non-Government employees whose estimated salary falls below the raised exemption limit by offsetting the identified surplus against tax payable for other employees in subsequent months. The payer must determine surplus payments, reduce the monthly return figures in Form No.21 (columns 8 and 9), enclose a list of affected employees with amounts, revise earlier returns to the month of adjustment, furnish a certificate of reimbursement with the adjustment-month return, and disclose the refunded excess in individual section 203 certificates. en-us Thu, 25 Sep 1980 00:00:00 +0530 Sat, 02 Aug 2008 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4686 Employers may adjust tax previously deducted at source from non-Government employees whose estimated salary falls below the raised exemption limit by offsetting the identified surplus against tax payable for other employees in subsequent months. The payer must determine surplus payments, reduce the monthly return figures in Form No.21 (columns 8 and 9), enclose a list of affected employees with amounts, revise earlier returns to the month of adjustment, furnish a certificate of reimbursement with the adjustment-month return, and disclose the refunded excess in individual section 203 certificates. Circulars Income Tax Thu, 25 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4686