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Income Tax Act Circular f.y 2017-18

DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2017-18 - CIRCULAR NO 29 /2017

IT CIRCULAR NO 29 /2017 by GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES.

SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE  FINANCIAL YEAR 2017-18 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961.
Reference is invited to Circular No. 01/2017 dated 02.01.2017 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 2016-17, 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 2017-18 and explains certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules).
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