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 To know more in details,click here

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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.