TaxTMI 
TaxTMI 
Salary
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....o in clause (2) of section 17, may pay, at his option, tax on the whole or part of such income without making any deduction therefrom at the time when such tax was otherwise deductible under the provisions of sub-section (1). (1B) For the purpose of paying tax under sub-section (1A), tax shall be determined at the average of income-tax computed on the basis of the rates in force for the financial year, on the income chargeable under the head "Salaries" including the income referred to in sub-section (1A), and the tax so payable shall be construed as if it were, a tax deductible at source, from the income under the head "Salaries" as per the provisions of sub-section (1), and shall be subject to the provisions of this Chapter.] ^16[(1C....
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....at source therefrom and such other particulars, in such form and verified in such manner as may be prescribed, and thereupon the person responsible for making the payment referred to above shall take into account the details so furnished for the purposes of making the deduction under sub-section (1).] ^14[(2A) Where the assessee, being a Government servant or an employee in a ^6[company, co-operative society, local authority, university, institution, association or body] is entitled to the relief under ^18[****] section 89, he may furnish to the person responsible for making the payment referred to in sub-section (1), such particulars, in such form and verified in such manner as may be prescribed, and thereupon the person responsible as ....
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.... sub-section (1): Provided that this sub-section shall not in any case have the effect of reducing the tax deductible from income under the head "Salaries", except where the loss under the head "Income from house property" and the tax deducted in accordance with other provisions of Part B and tax collected in accordance with the provisions of Part BB, of this Chapter, has been taken into account.] ^9[(2C) A person responsible for paying any income chargeable under the head "Salaries" shall furnish to the person to whom such payment is made a statement giving correct and complete particulars of perquisites or profits in lieu of salary provided to him and the value thereof in such form and manner as may be prescribed.] ^15[(2D)....
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....th Schedule. (6) For the purposes of deduction of tax on salary payable in foreign currency, the value in rupees of such salary shall be calculated at the prescribed rate of exchange. ^13[****] **************** NOTES:- 1. Omitted vide Section 44 of the Finance Act, 1965 w.e.f. 01-04-1965 before it was read as, "and super-tax" 2. Omitted vide Section 44 of the Finance Act, 1965 w.e.f. 01-04-1965 before it was read as, "and average rate of super-tax respectively" 3. Substituted vide Section 13 of the Finance Act, 1968 w.e.f. 01-04-1968 before it was read as, "rates of tax in force" 4. Inserted vide Section 71 of the Finance Act, 2002 w.e.f. 01-06-2002 5. I....
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....on also into account for the purposes of making the deduction under sub-section (1) : Provided that this sub-section shall not in any case have the effect of reducing the tax deductible from the income under the head "Salaries" below the amount that would be so deductible if the other income and the tax deducted thereon had not been taken into account." Earlier, Inserted vide Section 45 of the Finance Act, 1987 w.e.f. 01-06-1987 9. Inserted vide Section 68 of the Finance Act, 2001 w.e.f. 01-06-2001 10. Inserted vide Section 71 of the Finance Act, 2002 w.e.f. 01-06-2002 11. Inserted Section 45 of the Finance Act, 1987 w.e.f. 01-06-1987 Earlier, Amended vide Section 44 of the Finance A....