CBDT circular on calculation of TDS on salary for FY 2014-15

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CBDT has released Circular no. 17/2014 which
contains the rates of deduction of income-tax from the payment of income
chargeable under the head “Salaries” during the financial year 2014-15 and
explains certain related provisions of the Act and Income-tax Rules, 1962.
 The
released circular has been given below:


CIRCULAR NO : 17/2014 
F.No. 275/192/2014-IT(B)
Government
of India
Ministry
of Finance
Department
of Revenue
Central
Board of Direct Taxes
****** 
North Block, New Delhi
Dated
10th December, 2014
SUBJECT:
INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2014-15 UNDER
SECTION 192 OF THE INCOMETAX ACT, 1961.
*****
Reference is invited to Circular No.08/2013 dated 25.10.2013
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 2013-14, 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 2014-15
and explains certain related provisions of the Act and Income-tax Rules, 1962
(hereinafter the Rules). The relevant Acts, Rules, Forms and Notifications are
available at the website of the Income Tax Department-
www.incometaxindia.gov.in. 
Click here to view/download the complete circular.

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