Amendment expands tax deduction scope for salaried employees, allowing credit for TCS/TDS paid under certain chapters, easing compliance.

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Full Text of the Document

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....Income Tax: Proposed amendment to sub-section (2B) of section 192 to expand its scope to include tax deducted/collected under Chapter XVII-B or Chapter XVII-BB for computing deduction of tax on salary income, easing compliance and avoiding cash flow issues for salaried employees by allowing credit for TCS/TDS paid. The amendment will take effect from October 1, 2024.....