"TDS ON SALARY HOW TO CALCULATE CIRCULAR 8/2010” plus 2 more

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"TDS ON SALARY HOW TO CALCULATE CIRCULAR 8/2010” plus 2 more

TDS ON SALARY HOW TO CALCULATE CIRCULAR 8/2010

Posted: 13 Jan 2011 10:37 AM PST


Section 192 of the Income-tax Act, 1961 - Deduction of tax at source - Salaries - Income-tax deduction from salaries during the financial year 2010-11 CIRCULAR NO. 8/2010 [F.No. 275/192/2009-IT(B)], DATED 13-12-2010 Reference is invited to Circular No.01/2010 dated 11-1-2010 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under section 192...

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Valuation of the perquisite of Rent free accommodation

Posted: 13 Jan 2011 10:17 AM PST


Accommodation :- For purpose of valuation of the perquisite of unfurnished accommodation, all employees are divided into two categories: (I) Central Govt. & State Govt, employees; and (ii) Others. For employees of the Central and State governments the value of perquisite shall be equal to the licence fee charged for such accommodation as reduced by the rent actually paid by the employee. For...

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TDS on salary without PAN u/s 206AA

Posted: 13 Jan 2011 10:09 AM PST


Finance Act (No. 2) 2009, w.e.f. 01/04/2010 has inserted sec. 206AA in the Income-tax Act which makes furnishing of PAN by the employee compulsory in case of payments liable to TDS. If employee (deductee) fails to furnish his/her PAN to the deductor, the deductor shall make TDS at a higher of the following rates i. at the rate specified in the relevant provision of this Act; or ii. at...

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