Income-tax Deduction from Salaries During the Financial Year 2020-21 under section 192 of the Income-tax Act, 1961

Last updated: 05 December 2020

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This notification from the Central Board of Direct Taxes provides guidance on income tax deductions from salaries for the financial year 2020-21. It specifically addresses deductions made under Section 192 of the Income-tax Act, 1961. The circular aims to clarify the rules and procedures for employers regarding TDS on salary payments during this period.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
CENTRAL BOARD OF DIRECT TAXES

DEDUCTION OF TAX AT SOURCE-
INCOME-TAX DEDUCTION FROM SALARIES
UNDER SECTION 192 OF THE INCOME-TAX ACT, 196I

DURING THE FINANCIAL YEAR 2020-21

CIRCULAR NO. 20/2020

NEW DELHI,the 03rd December,2020

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FAQ :

The notification provides guidance on income tax deductions from salaries during the financial year 2020-21, specifically under Section 192 of the Income-tax Act, 1961.

This notification covers the financial year 2020-21.

The deductions are made under Section 192 of the Income-tax Act, 1961.

The notification was issued by the Central Board of Direct Taxes (CBDT), under the Ministry of Finance, Government of India.