https://www.taxtmi.com/article/detailed?id=9100 The statutory scheme requires employers to deduct tax from salary at the rates in force for the financial year as specified by the Finance Act. A departmental circular allowing withholding based on an employee's election of the new tax regime conflicts with those legislated rates, imposes additional compliance obligations on employers to obtain declarations and compute withholding accordingly, and therefore lacks clear statutory authorization despite potential benefit to many employees. en-us Tue, 21 Apr 2020 12:03:21 +0530 Tue, 21 Apr 2020 12:03:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9100 The statutory scheme requires employers to deduct tax from salary at the rates in force for the financial year as specified by the Finance Act. A departmental circular allowing withholding based on an employee's election of the new tax regime conflicts with those legislated rates, imposes additional compliance obligations on employers to obtain declarations and compute withholding accordingly, and therefore lacks clear statutory authorization despite potential benefit to many employees. Articles Income Tax Tue, 21 Apr 2020 12:03:21 +0530 https://www.taxtmi.com/article/detailed?id=9100