https://www.taxtmi.com/news?id=72083 Form No. 124 is the employee's statement of particulars of claims for deduction of tax at source under section 392(5)(b) of the Income-tax Act, 2025 read with Rule 205 of the Income-tax Rules, 2026. It is furnished to the current employer so that deductions, exemptions and allowances may be considered for correct tax deduction from salary. The form is filed once every financial year and requires employee details, claim particulars, supporting evidence and a declaration that the particulars are correct and complete. en-us Wed, 01 Apr 2026 18:27:52 +0530 Wed, 01 Apr 2026 18:27:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=72083 Form No. 124 is the employee's statement of particulars of claims for deduction of tax at source under section 392(5)(b) of the Income-tax Act, 2025 read with Rule 205 of the Income-tax Rules, 2026. It is furnished to the current employer so that deductions, exemptions and allowances may be considered for correct tax deduction from salary. The form is filed once every financial year and requires employee details, claim particulars, supporting evidence and a declaration that the particulars are correct and complete. News - Wed, 01 Apr 2026 18:27:52 +0530 https://www.taxtmi.com/news?id=72083