https://www.taxtmi.com/circulars?id=4763 Employers must deduct tax at source from salaries by computing tax on the employee's estimated annual salary at average rates and deducting monthly instalments; no deduction is required unless the estimated annual salary exceeds the statutory threshold. Estimated salary must include taxable perquisites and benefits, while statutory exemptions and specified receipts are excluded. Disbursing authorities must apply standard deductions, savings scheme deductions subject to ceilings, validate documentary proof for exemptions and use correct challans; failure to deduct or pay attracts interest, charge on assets and possible criminal liability. en-us Sat, 18 Jun 1983 00:00:00 +0530 Sat, 02 Aug 2008 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4763 Employers must deduct tax at source from salaries by computing tax on the employee's estimated annual salary at average rates and deducting monthly instalments; no deduction is required unless the estimated annual salary exceeds the statutory threshold. Estimated salary must include taxable perquisites and benefits, while statutory exemptions and specified receipts are excluded. Disbursing authorities must apply standard deductions, savings scheme deductions subject to ceilings, validate documentary proof for exemptions and use correct challans; failure to deduct or pay attracts interest, charge on assets and possible criminal liability. Circulars Income Tax Sat, 18 Jun 1983 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4763