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CBDT Circular on TDS from Salary under section 192 during FY 2022-23 (AY 2023-24)

cbdt-circular-tds-from-salary-section-192-during-fy-2022-23-ay-2023-24

CBDT has issued a Circular on TDS from Salary under section 192 for AY 2022-23 (FY 2021-22) vide Circular No. 24/2022 dated 07.12.2022 detailing the procedure to be followed by an employer for deducting TDS from the salary income of employees paid during FY 2022-23 or assessment year (AY) 2023-24. The Circular deals with the Income-tax deduction from salaries during the Financial Year 2022-23 under section 192 of the Income-tax Act, 1961 ('Act').


The circular further prescribes what documentary evidence or proof of investments is required to be taken from the employees by the employer for computing the income from the salary of the employees and what rate the tax should be deducted.



Like every year, the CBDT has issued a circular in this year also prescribing the guidelines to be followed by the employers while deducting the income tax or TDS from the salary income paid to the employees during the FY 2022-23 relevant for the AY 2023-24.


The CBDT's 115-page Circular No. 24/2022 dated 07-12-2022 which is titled as 'DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2022-23' contains the gist of all the procedures that an employer is required to be followed while deducting the TDS from the salary income.


For detailed reading, Circular 24/2022 dated 07-12-2022 on TDS from Salary under 192 for AY 2023-24 may be accessed from here.


It may be reiterated that the instructions contained in the aforesaid CBDT Circular on Salary TDS for FY 2022-23, are not exhaustive and are issued by the CBDT only with a view to guide the employers to understand the various provisions relating to deduction of tax from salaries. 


Wherever there is any doubt, reference may be made to the provisions of the Income-tax Act, 1961, the Income-tax Rules, 1962, the relevant Finance Acts, the relevant circulars/ notifications, etc.


This note presents a summary of the circular briefing of the detailed contents of the circular instead of repeating the entire circular itself. Anyone interested in reading the full 115-page Circular, he may download the circular from here.


The Index of the contents of the Circular is reproduced below.


Index


1. Definition of “salary”, “perquisite” and “profit in lieu of salary” (section 17)

1.1 What is salary?

1.2 What is a Perquisite? 

1.3 What is profit in lieu of salary?


2. Rates of income-tax as per Finance Act, 2022

2.1 Rates of tax

2.2 Surcharge on Income-tax

2.3 Health and Education Cess

2.4 Concessional Rates of Tax u/s 115BAC


3. Section 192 of the Income-tax Act, 1961: Broad scheme of Tax Deduction at Source from "Salaries”

3.1 Method of Tax Calculation 

3.2 Payment of Tax on Perquisites by Employer

3.3 Computation of Average Income Tax

3.4 Salary from more than one employer

3.5 Relief When Salary Paid in Arrear or Advance

3.6 Information regarding Income under any other head

3.7 Computation of income under the head “Income from house property”

3.7.1 Conditions for claim of deduction of interest on borrowed capita for computation of Income from House Property [section 24(b)]

3.8 Adjustment for Excess or Shortfall of Deduction

3.9 Salary Paid in Foreign Currency


4. Persons Responsible For Deducting Tax And Their Duties

4.1 Tax Deduction at Source

4.1.2 Rates for tax deduction at source

4.2 Deduction of Tax at Nil or Lower Rate

4.3 Deposit of Tax Deducted

4.3.1 Due dates for payment of TDS

4.4 Mode Of Payment Of TDS

4.4.1 Compulsory filing of Statement by PAO, Treasury Officer, etc in case of payment of TDS by Book Entry u/ s 200 (2A)

4.4.2 Payment by an Income Tax Challan

4.5 Interest, Penalty & Prosecution for Failure to Deposit Tax Deducted

4.6 Furnishing of Certificate for Tax Deducted (Section 203)

4.7 Furnishing of particulars pertaining to perquisites, etc. - Section 192(2C)

4.8 Mandatory Quoting of PAN or Aadhaar number as the case may be and TAN

4.9 Compulsory Requirement to furnish PAN or Aadhaar by employee (Section 206AA)

4.10 Statement of deduction of tax under section 200(3) [Quarterly Statement of TDS]

4.11 Fee for default in furnishing statements u/s 200(3) of the Act

4.12 Rectification of mistake in filing TDS Statement

4.13 Penalty for failure to furnishing statements or furnishing incorrect information (section 271H)

4.14 TDS on Income from Pension

4.15 Matters pertaining to the TDS made in case of Non-Resident


5. Computation Of Income Under The Head "Salaries"

5.1 Income chargeable under the head "Salaries"

5.2 Value of Perquisites as per Rule

5.3 Incomes not included under the head "Salaries" (Exemptions)

5.4 Deductions u/s 16 of the Act

5.5 Deductions Under Chapter VI-A of the Act

5.5.1 Deduction in respect of Life insurance premia, deferred annuity, contributions to provident fund,

subscription to certain equity shares or debentures, etc. (section 80C)

5.5.2 Deduction in respect of contribution to certain pension funds (Section 80CCC)

5.5.3 Deduction in respect of contribution to pension scheme of Central Government (Section 80CCD)

5.5.4 Deduction in respect of health insurance premia paid, etc. (Section 80D)

5.5.5 Deductions in respect of expenditure on persons or dependants with disability

5.5.6 Deduction in respect of medical treatment, etc. (Section 80DDB)

5.5.7 Deduction in respect of interest on loan taken for higher education (Section 80E)

5.5.8 Deduction in respect of interest on loan taken for certain house property (Section 80EEA)

5.5.9 Deduction in respect of the interest payable on loan taken for the purpose of purchase of an electric vehicle (80EEB)

5.5.10 Deductions on respect of donations to certain funds, charitable institutions, etc. (Section 80G)

5.5.11 Deductions in respect of rents paid (Section 80GG)

5.5.12 Deductions in respect of certain donations for scientific research or rural development  (Section 80 GGA)

5.5.13 Deduction in respect of interest on deposits in savings account (Section 80TTA)

5.5.14 Deduction in respect of interest on deposits in case of senior citizens (Section 80TTB)


6. Rebate Of Rs12,500 For Individuals Having Total Income Upto Rs 5 Lakh [Section 87A]


7. TDS on payment of accumulated balance under recognised provident fund and contribution from approved superannuation fund


8. DDOs to obtain evidence/proof of claims


9. Calculation of income-tax to be deducted


10. Miscellaneous


ANNEXURE

I Some Illustrations

II Form No. 12BA

IIA Form No. 12BB

III Procedure of preparation and furnishing Form 24G at TIN-Facilitation 

Centres (TIN-FCs)

IV The procedure of furnishing Form 24G

V Person responsible for filing Form 24G in case of State Government 

Departments/ Central Government Departments

VI Procedure of preparation of quarterly statement of Deduction of Tax u/s 200 (3)

VII Deptt. of Economic Affairs Notification dated 22.12.2013

VIII CBDT’s Notification dated 24.11.2000

IX CBDT’s Notification dated 29.01.2001

X Form No. 10 BA

Annexure B

Annexure C


The Circular is divided into 10 paras and contains 10 annexures.


The present Circular contains the rates of deduction of Income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2022-23 and explains certain related provisions of the Act and Income-tax Rules. 1962.


As per section 192 (1) of the Act, any person responsible for paying any income chargeable under the head "Salaries" shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rates in force for the financial year in which the payment is made, on the estimated income of the employee under the head of Salary income for that financial year.


The section also provides that a person responsible for paying any income chargeable under the head "Salaries" shall furnish to the person to whom such payment is made a statement giving correct and complete particulars of perquisites or profits in lieu of salary provided to him and the value thereof.


Discussing the legal definition of Salaries


The Circular has reproduced the definition of salary, perquisite and profit in lieu of salary to explain their meaning.


Rates of tax


It begins with the rate of tax to be applied for the deduction of TDS from the salary income of the employees. Since employees are individuals, the circular mentions the tax rates for individuals only.


On the income-tax amount, applicable surcharge and Health and Education Cess need to be applied.


The relevant tax rates for AY 2023-24 are prescribed in the Finance Act, 2022.


The income tax slabs for FY 2022-23 are mentioned in this article.


Concessional Rates of Tax u/s 115BAC


Section 115BAC of the Income -tax Act. 1961, inserted by the Finance Act. 2020 w.e.f. Assessment Year 2021-22, inter alia, provides that a person, being an individual or a HUF may exercise an option in respect of a previous year to be taxed under the said section 115BAC. In case of a person having income from business or profession, such person is required to exercise the option in prescribed manner on or before the due date specified under sub-section (1) of section 139 of the Act for any previous year relevant to assessment year commencing on or after 01.04.2021 and such option once exercised shall apply to subsequent assessment years. However. In the case of such persons, the option once exercised can be withdrawn only once and such person shall never be eligible to exercise the option again unless such person ceases to have income from business or profession. In case of a person having income from any other source apart from business and profession, such person is required to exercise the option in the prescribed manner along with the return of income to be furnished under section 139(1) of the Act for the previous year relevant to the assessment year. The concessional rates of tax provided under section 115BAC are subject to the condition that the total income shall be computed without specified exemptions or deductions, set off of loss and additional depreciation.


Readers are aware that the Finance Act, 2020 has introduced a new provision Section 115BAC in the Income Tax Act, 1961 to provide for a concessional rate of tax on the total income to Individuals and HUFs.


Section 115BAC is optional and can be opted by an Individual or HUF if he forgoes certain deductions and exemptions.


Till FY 2019-20 (or AY 2020-21) there was only one regime of taxation for Individuals and HUFs and are required to compute the taxes on total income as per the rates of tax as specified in the Finance Act of every year.


However, from April 1, 2020, a new tax regime under section 115BAC is parallely introduced to provide for a concessional rate of tax on the total Income. Hence, from AY 2021-22 (or FY 2020-21, there are two operative tax regimes - One is the old tax regime where all the applicable deductions and exemptions are available and the tax rates are as per the rates of tax specified in the Finance Act, 2020.


The second one is section 115BAC which is a new tax regime and claims of many specified deductions and exemptions have been restricted but lower tax rates are provided in section 115BAC itself.


CBDT has issued Circular No. C1/2020 dated 13.04.2020 to clarify the process of exercising of option by a taxpayer with regard to deduction of tax at source if he/she opts for the concessional rates of tax as per section 115BAC of Income Tax Act,1961. The same is reiterated in this Circular. 


Estimation of Income:


The circular requires every employer paying any income chargeable under the head "Salaries" to deduct income-tax on the estimated income of the assessee under the head "Salaries" for the financial year 2019-20. Hence, every employer is required to estimate the salary income of every employee and on such an estimated income, income-tax deduction is required.


No tax will be required to be deducted at source in a case where the estimated salary income including the value of perquisites is not taxable after giving effect to the exemptions, deductions and relief as applicable.


The employer has the option to deposit the TDS on non-monetary perquisites given to an employee.


The current employer shall also consider the salary income from the previous employer(s) of the newly joined employee during the previous year by obtaining a declaration from the employee to this effect.


The employer shall compute the estimated income after considering the relief under section 89 as per the particulars furnished in Form 10-E by the employee concerned.


Interchangeability of PAN and Aadhaar


The Union Budget 2019 has made the PAN and Aadhaar interchangeable. It means, if a person does not hold PAN, he can intimate his Aadhaar Number instead of PAN.


In line with the budget announcement, CBDT has issued a notification to give the effect of the same in the income tax law. Vide Notification No. 95/2019 dated 6-11-2019, amendments in Income Tax Rules, 1962 has been made. One of the amendments is that the employer can quote PAN or Aadhaar Number of the employee in Form 16 (TDS certificate for deduction of tax from salary income) as well as in Form 24Q (Quarterly e-TDS return filed by the employer for deduction of tax from salary income).


In line of the amendment in the Rules, the aforesaid circular also prescribes the employer accept the PAN or Aadhaar Number of the employee.


For calculating the income-tax on estimated salary income for FY 2022-23 applicable income tax rates, the same is subject to the provisions related to the requirement to furnish PAN or Aadhaar number, as the case may be, as per section 206AA of the Income Tax Act.


The tax shall be deducted at the applicable rates at the time of payment of salary to the employee


No tax shall be required to be deducted if the estimated salary income including the value of perquisites for FY 2022-23 does not exceed 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.


Certain illustrations are given in Annexure-I of the circular.


Payment from Provident Fund


Any payment from a Provident Fund to which the Provident Funds Act, 1925, applies or from any other provident fund set up by the Central Government and notified by it in the Official Gazette, is exempt under clause (11) to section 10. First proviso to clause (11) of section 10, with effect from 1st April, 2022, provides that exemption under said clause will not be available in case of an income by way of interest accrued during the previous year in the account of a person to the extent it relates to the amount or the aggregate of amounts of contribution made by that person exceeding prescribed threshold limit (two lakh and fifty thousand rupees) in any previous year in that fund, on or after the 1st day of April, 2021 and computed in prescribed manner. Second proviso to clause (11) of section 10 provides that if the contribution by such person in a fund in which there is no contribution by the employer of such person, the threshold limit would be five lakhs rupees. Rule 9D of the Income-tax Rules, 1962 provides for the calculation of taxable interest relating to contribution in a provident fund or recognized provident fund, exceeding specified limit.


The accumulated balance due and becoming payable to an employee participating in a recognized provided fund, to the extent provided in rule 8 of Part A of the Fourth Schedule to the Act is exempt under clause (12) of section 10 of the Act. With effect from 1st April, 2022, the exemption under the said clause will not be applicable to the income by way of interest accrued during the previous year in the account of a person to the extent it relates to the amount or the aggregate of amounts of contribution made by that person exceeding prescribed threshold limit two lakh and fifty thousand rupees in any previous year in that fund, on or after the 1st day of April, 2021 and computed in prescribed manner. Second proviso to clause (12) of section 10 provides that if the contribution by such person in a fund in which there is no contribution by the employer of such person, the threshold limit would be five lakhs rupees. Rule 9D of the Income-tax Rules, 1962 provides for the calculation of taxable interest relating to contribution in a provident fund or recognized provident fund, exceeding specified limit.


It is clarified that the threshold limit shall mean:- (i) five lakh rupees, if the second proviso to clause (11) or clause (12) of section 10 is applicable; and (ii)two lakh and fifty thousand rupees in other cases.


(Ref: Notification No. 95/2021 G.S.R.604(E) Dated 31st August, 2021)



Salary From More Than One Employer


The current employer is under obligation to obtain details of the income under the head "Salaries" due or received from the former/other employer and also tax deducted at source therefrom, in writing and duly verified by him and by the former/other employers.


If an assessee is employed under more than one employer during the year, each of the employers shall issue Part A of TDS certificate in Form No. 16 pertaining to the period for which such assessee was employed with each of the employers .


Part B (Annexure-I) of the certificate in Form No. 16 may be issued by each of the employers or the last employer at the option of the assessee. 


Relief to be given When Salary Paid in Arrear or Advance


If the employee is eligible to claim relief u/s 89, then the employer shall obtain Form 10E duly verified by the employee.


Reporting of Income under other heads of income by the employee


If the employee reports any other income, the employer shall consider the same before deducting the income-tax. In case of reporting of loss under any head of income, an employer shall consider only 'Loss from House Property'. Any other loss reported under any other heads of income shall not be considered by the employer.


In the case of income from house property or loss from house property, the employer shall obtain a computation of such income or loss from house property from the employee and the evidence of interest payment in Form 12BB. Further, the employer shall obtain the 'completion certificate' of the house property from the employee.


Note: Though the circular allows the employer to consider income under the other heads, however, Form 16 as amended by Notification No. 36/2019 dated 12.04.2019 allows an employer to report only the income under the following heads of income-

1. Income or Loss from House Property

2. Income from Other Sources


Hence, an employer cannot consider income chargeable under the head ‘Income from business or profession’ or Income chargeable under the head ‘Capital Gains’.


Read more on New Form 16:

Changes in Form 16 for salary TDS certificate for AY 2019-20


Set-off of loss from Salary Income


Employers can consider loss only under the head "Income from house property". Loss under any other head cannot be considered by the employer for calculating the amount of tax to be deducted.


Computation of income under the head ‘Income from House Property’


Following details shall be obtained and kept by the employer in respect of loss claimed under the head "Income from House Property" separately for each house property.


a)

Gross annual rent/value

b)

Municipal Taxes paid, if any

c)

Deduction claimed for interest paid, if any

d)

Other deductions claimed 

e)

Address of the property 


The employer shall also ensure furnishing of the evidence or particulars in Form No. 12BB in respect of deduction of interest as specified in Rule 26C read with section 192(2D).


The following relevant evidences shall be obtained by the employer from the employee for allowing deduction from income from houses property on interest on borrowed capital-


1. Completion Certificate of the house property against which deduction is claimed either from the builder or through self-declaration


2. Pre-construction period interest certificates


3. Interest certificate from lender payable on borrowed capital


Adjustment of excess or short deduction


The employer can adjust the excess or short deduction of income tax from the payment of salary of the subsequent months. It is not necessary to deduct income tax equally over the 12 months period.


Salary Paid in Foreign Currency


For the purposes of deduction of tax on salary payable in foreign currency, the value in rupees of such salary shall be calculated at the “Telegraphic transfer buying rate” (TT buying rate) of such currency as on the date on which tax is required to be deducted at source


Deduction of income-tax at a lower rate


As stated above, the employer shall deduct the income-tax from the payment of salary at the applicable rates. However, if the employee furnishes any lower TDS certificate u/s 197, then the employer shall deduct income tax at such a lower rate.


Duties of Employer


The circular has reminded the employer about his duties with respect to the deduction of income tax from the salary payment. These include deduction of TDS, timely deposit of TDS to the credit of the central government, payment by proper challan, filing of TDS return within the due dates, issue of TDS certificates to the employees in time.


The circular also reiterates the penal consequences in case of default in any of the above duties prescribed in the Act.


The circular also mentions certain guidelines for the proper filing of e-TDS return in Form 24Q. 


Issue of Form-16 with Digital Signature


Where a TDS certificate is to be furnished in Form No. 16. the deductor may, at his option, use digital signatures to authenticate such certificates.


Issue of Form 12BA


The particulars of perquisites or profits in lieu of salary to the employee shall be issued in Form 12BA in case the salary paid or payable is above Rs.1,50,000/-.


Form 12BA is to be furnished in addition to Form 16 to the employee whose salary is more than one lakh and fifty thousand rupees.


Proof of deduction claimed


Deductions shall be allowed only after obtaining the necessary proof or evidence of investments and expenditure as claimed by the employee in Form 12BB. Form 12BB is enclosed in the circular. No deduction shall be allowed if any employee fails to submit any proof of investment, etc. 


The circular has reproduced the provisions of the Income Tax Act and Income Tax Rules for the computation of Income from Salary for the employees.


TDS on Income from Pension


As per section 17(1)(ii) of the Income-tax Act. 1961, the term 'salary' includes pension. In the case of pensioners who receive their pension (not being family pension paid to a spouse) from a nationalized bank, the bank may allow deduction under section 80C if the pensioner furnishes the relevant details to the banks.


In case of applicability of section 194P, the specified senior citizen has to furnish a declaration in Form 12BBA (See Rule 26D) to the specified Bank. Form 12BBA is required to be filed in paper form.


COVID-19 medical reimbursement


In respect of any illness relating to COVID-19 subject to such conditions as the Central Government may, by notification in the Official Gazette, specify in this behalf shall not be included as ‘perquisities’. This has been inserted as amendment through Finance Act 2022 with retrospective effect from 01.04.2020 and thus accordingly, applies in relation to the assessment year 2020-2021 and subsequent assessment years. The conditions have been notified vide CBDT Notification No. [S.O. 3703(E)] 90/2022 dated: 05.08.2022.


Proof of evidence for LTA exemption claim 


The Hon'ble Supreme Court by a judgement dated 21-01-2009 in the case of CIT vs Larsen & Toubro Ltd. in Civil Appeal No. 993 OF 2005 With Civil Appeal No. 992 OF 2005 held that employers while assessing the conveyance and leave & travel allowance (LTA) claims of their staff, are under no statutory obligation to collect supporting evidence and furnish them to tax authorities.


However, after the introduction of Form 12BB, employers have been obliged to obtain details/evidence in respect of the claim of exemption for leave travel concession or assistance before allowing the said exemption the relevant form for furnishing details by the employee in Form 12BB.


Exemption for Rent Payment against House Rent Allowance


While allowing the claim of rent paid from the HRA of the employee, the employer shall ensure to collect the prescribed information in Form 12BB.


From this year, if the PAN of the landlord is not available then the employee can furnish the Aadhaar Number of the land where aggregate rent paid by the employee during the financial year 2021-22 exceeds Rs. 1,00,000.


Please note that the PAN or Aadhaar number of the landlord is required to be furnished to the employer only. No such requirement is contained in ITR forms notified in ITR-1 or ITR-4 for AY 2021-22.


The employer is required to report the PAN or Aadhaar Number of the landlord in the quarterly e-TDS return filed in Form 24Q.


Read more on HRA Exemption:

HRA Tax Exemption for Rent Paid to Parents and Spouse

HRA Exemption is allowed on actual payment of rent


In this context, it should be noted that the requirement to furnish the PAN or Aadhaar Number of the landlord is required only when the exemption for rent payment is given under section 10(13A) against receipt of House Rent Allowance or HRA.


When such deduction is allowed u/s 80GG the Circular is silent on the requirement of the PAN or Aadhaar Number of the landlord if the aggregate rent payment exceeds Rs. 1,00,000. In this case, only Form 10BA is required. The Form 10BA also requires to mention the name and address of the landlord and not the PAN or Aadhaar Number of the landlord. Form 10BA is mandatory even if the aggregate rent payment does not exceed Rs. 1,00,000 in a financial year.


Exemptions and Deductions


The circular discusses all the exemptions and deductions under chapter VI-A which is available to an employee and can be allowed by the employer.


Deduction under section 80TTA or 80TTB shall be allowed by the employer only if the interest income is reported to the employer by the employee in Form 12BB.


Read the full text of CBDT Circular 24/2022 dated 07.12.2022 on TDS from Salaries for FY 2022-23 (AY 2023-24) u/s 192


CIRCULAR NO: 24/2022 

F. No. 275/15/2022-IT(B) 

Government of India 

Ministry of Finance 

Department of Revenue 

Central Board of Direct Taxes 

****** 

North Block, New Delhi 

Dated the 7th Dec, 2022


SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2022-23 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961. 

*****

Reference is invited to Circular No. 04/2022 dated 15.03.2022 whereby 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 (hereinafter ‘the Act’), during the financial year 2021-22, were intimated. The present Circular contains the rates of deduction of Income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2022-23 and explains certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules). All the sections and rules referred are of Income-tax Act, 1961 and Income-tax Rules, 1962 respectively unless otherwise specified. The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department- www.incometaxindia.gov.in.


As per section 192(1) of the Act, any person responsible for paying any income chargeable under the head "Salaries" shall, at the time of payment, deduct income-tax on the amount payable at the average rate of income-tax computed on the basis of the rates in force for the financial year in which the payment is made, on the estimated income of the assessee under the head of Salary income for that financial year.


The section also provides that a person responsible for paying any income chargeable under the head "Salaries" shall furnish to the person to whom such payment is made a statement giving correct and complete particulars of perquisites or profits in lieu of salary provided to him and the value thereof.


1. Definition of “salary”, “perquisite” and “profit in lieu of salary” (section 17)

….

….


Download CBDT Circular 24/2022 dated 07.12.2022 on TDS from Salaries for FY 2022-23 (AY 2023-24) u/s 192 in PDF format


Read Further on Section 115BAC:

Is Deduction for NPS available under New Tax Section 115BAC

Is Interest on Home Loan Allowed as Deduction under New Tax Section 115BAC

Section 115BAC Option of New Tax to Employee and TDS by Employer

CBDT Issues Circular to Clarify Option under Section 115BAC and TDS by Employer

New Income Tax Slab Rates after Union Budget 2020

Is New Income Tax Slab Rate for Individuals after Budget 2020 Really Beneficial

New Personal Income Tax Regime after union Budget 2020-21

Section 115BAC on Income Tax Act - New Tax rate for Individuals and HUF



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