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TDS Section 192 provisions for AY 20-21

Posted on 07 March 2020,    
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F.No.275/19212019-IT(B) 
Government of India 
Ministry of Finance 
Department of Revenue 
Central Board of Direct Taxes 

North Block, 
New Delhi the 5th March, 2020 

CORRIGENDUM TO CIRCULAR NO.4 OF 2020 DATED 16.01.2020

Subject: Income-Tax Deduction from Salaries during the Financial Year 2019-2020 under Section 192 of the Income-Tax Act, 1961 - regarding. 

In Circular No.04/2020 dated 16th January, 2020 on the above-mentioned subject, it is to state that Para 3.1 under heading "Method of Tax Collection"  is modified as below: 

For sentence 3 of Para 3.1: 

No tax, however, will be required to be deducted at source in a case unless the estimated salary income including the value of perquisites, for the Financial Year exceeds Rs 2,50,000/- or Rs 3,00,000/- or Rs 5,00,000/-, as the case may be, depending upon the age of the employee. 

May be read as: 

No tax, however, will be required to be deducted at source in a case unless the estimated salary income including the value of perquisites is taxable after giving effect to the exemptions, deductions and relief as applicable. 

2. in view of the above, Circular No.0412020 may accordingly be treated as modified to this extent. 

(Naveen Kapoor) 
Under Secretary to the Govt. of India 
Tele/Fax: 011-23094182 
E-mail: naveen.kapoor65@nic.in 

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