https://www.taxtmi.com/circulars?id=4743 Employers must deduct income-tax at source from salaries by computing tax on the estimated annual salary income at the average rate and deducting the aggregate tax divided into monthly instalments, with withholding required only if the estimated annual salary exceeds the prescribed threshold. The estimate must include the value of employer-provided perquisites and certain benefits; specific rules and exemptions (including limited leave encashment on retirement, standard deduction limits and reductions for employer-provided vehicles, specified savings deductions, HRA evidentiary requirements, foreign remuneration relief, and disability deductions) govern what is included or excluded for withholding. Employers must remit withheld tax correctly using designated challans, observe rounding rules, and are subject to interest and penal consequences for failure to deduct or pay. en-us Wed, 19 May 1982 00:00:00 +0530 Sat, 02 Aug 2008 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4743 Employers must deduct income-tax at source from salaries by computing tax on the estimated annual salary income at the average rate and deducting the aggregate tax divided into monthly instalments, with withholding required only if the estimated annual salary exceeds the prescribed threshold. The estimate must include the value of employer-provided perquisites and certain benefits; specific rules and exemptions (including limited leave encashment on retirement, standard deduction limits and reductions for employer-provided vehicles, specified savings deductions, HRA evidentiary requirements, foreign remuneration relief, and disability deductions) govern what is included or excluded for withholding. Employers must remit withheld tax correctly using designated challans, observe rounding rules, and are subject to interest and penal consequences for failure to deduct or pay. Circulars Income Tax Wed, 19 May 1982 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4743