https://www.taxtmi.com/circulars?id=5106 Employers must deduct income tax at source from salary payments at the average rate on estimated salary income including taxable perquisites, dividing the annual tax by twelve for monthly deduction, subject to statutory exemptions and exclusions. Taxable salary components include wages, fees, commissions, perquisites, pensions and specified provident fund accretions; valuation of perquisites follows the Rules and certain benefits are excluded or exempt if conditions are met. Deductions and rebates permitted under the Act (including the standard deduction, specified chapter VIA deductions and investment linked tax rebates) must be allowed for withholding, subject to verification; procedural obligations for deposit, reporting, issuance of TDS certificates and penalties for noncompliance are set out. en-us Thu, 01 Sep 1994 00:00:00 +0530 Sat, 09 Aug 2008 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5106 Employers must deduct income tax at source from salary payments at the average rate on estimated salary income including taxable perquisites, dividing the annual tax by twelve for monthly deduction, subject to statutory exemptions and exclusions. Taxable salary components include wages, fees, commissions, perquisites, pensions and specified provident fund accretions; valuation of perquisites follows the Rules and certain benefits are excluded or exempt if conditions are met. Deductions and rebates permitted under the Act (including the standard deduction, specified chapter VIA deductions and investment linked tax rebates) must be allowed for withholding, subject to verification; procedural obligations for deposit, reporting, issuance of TDS certificates and penalties for noncompliance are set out. Circulars Income Tax Thu, 01 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5106