https://www.taxtmi.com/circulars?id=5029 Employers must deduct income-tax at source from salary payments by computing tax on the employee's estimated annual salary at the average rate in force, after allowing statutory exemptions, prescribed deductions and rebates; valuation of perquisites follows Income-tax Rules; deductors must verify claims, deposit tax within prescribed time, furnish TDS certificates and annual returns, quote TAN, and face interest, penalties and possible prosecution for failures to deduct, remit or report correctly. en-us Wed, 13 Nov 1991 00:00:00 +0530 Fri, 08 Aug 2008 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5029 Employers must deduct income-tax at source from salary payments by computing tax on the employee's estimated annual salary at the average rate in force, after allowing statutory exemptions, prescribed deductions and rebates; valuation of perquisites follows Income-tax Rules; deductors must verify claims, deposit tax within prescribed time, furnish TDS certificates and annual returns, quote TAN, and face interest, penalties and possible prosecution for failures to deduct, remit or report correctly. Circulars Income Tax Wed, 13 Nov 1991 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5029