Quick Summary
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi Dated the 15th March, 2022 SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2021-22 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961. Reference is invited to Circ ular No. 20/2020 dated 03.12.2020 vhereby the rates of deduction of income-tax from the payment of income under the head Salaries under Section 192 of the Income-tax Act, 1961 (hereina
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN - Rs.1999
1799
(Excl. of GST ₹323)
2 Years PLAN - Rs.3499
3149
(Excl. of GST ₹566)
BEST VALUE
3 Years PLAN - Rs.4999
4499
(Excl. of GST ₹809)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The circular details the rates for deducting income tax from salary payments during the financial year 2021-22 and explains related provisions of the Income-tax Act and Rules.
This circular specifically covers the financial year 2021-22.
The circular references Section 192 of the Income-tax Act, 1961, regarding the deduction of income tax from salaries.
Any person responsible for paying income chargeable under the head 'Salaries' is responsible for deducting income tax at the time of payment.
Employers must provide employees with a statement detailing correct and complete particulars of perquisites or profits in lieu of salary and their value.
The relevant Acts, Rules, Forms, and Notifications are available on the Income Tax Department's website: www.incometaxindia.gov.in.
CAclubindia
