TaxTMI 
TaxTMI 
Deduction of tax at source-Income-tax deduction from salaries during the financial year 1987-88 under section 192 of the Income-tax Act, 1961
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....ncial year 1987-88 under section 192 of the Income-tax Act, 1961. I am directed to say that under the provisions of section 192 of the Income-tax Act, 1961, tax has to be deducted at source by any person responsible for paying any income chargeable under the head "Salaries". The rates of income-tax deduction during the year 1987-88 and the relevant rules applicable have already been circulated under Circular No. 489 (F. No. 275/51/87-IT(B)), dated 25th June, 1987-[1987] 166 ITR (St.) 152. The scope of deduction of tax at source from "Salaries" was modified by the Finance Act, 1987, by the insertion of sub-sections (2), (2A) and (2B) in section 192 of the Income-tax Act. The salient features of these provisions are given below: (a) The....
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.... to furnish particulars of income other than salaries to his employer who shall deduct out of the salary payment, the tax due on the total income subject to the condition that the total amount of tax deducted shall not be less than the amount deductible from income from salaries only. (d) These amendments will come into force with effect from 1st June, 1987. To meet the requirements of the new provisions, the Central Government have notified necessary amendments in the Income-tax Rules, 1962, vide Notification No. S.O. 963(E), dated 29-10-1987*. A copy of the notification along with enclosures is sent herewith for information and guidance. 2. This may please be brought to the notice of all Drawing and Disbursing Officers and others....
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....bsp; Director, &nbs....