E BOOK ON SALARY FOR EMPLOYERS EMPLOYEES FY 2010-11

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 of the Income-tax Act, 1961, during the financial year 2009-10, 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 2010-11 and explains certain related provisions of the Income-tax Act. The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department.


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Income tax calculator for salaries persons detailed (including hra calculator) Financial year 2010-11,Assessment year 2011-12



CONTENT OF CIRCULAR IS HERE
Para No.
1. General
2. Finance Act, 2010
3. Section 192 of Income-tax Act 1961
4. Persons responsible for deducting tax and their duties
5. Estimation of income under the head "Salaries"

5.1 Income chargeable under the head "Salaries"
5.2 Incomes not included in the head "Salaries" (Exemptions)
5.3 Deductions from income from salaries u/s 16 of the Act
5.4 Deductions under Chapter Vl-A of the Act

6. Calculation of Income-tax to be deducted
7. Miscellaneous
Annexures
I. Examples
II. Form No. 12BA (as amended)
III. Revised procedure for furnishing quarterly e-TDS/TCS
statement by deductors/collectors
IV. Person responcible for filling Form 24G in case
of State Govt Departments/Central Govt Departments
V. Deptt. of Eco. Affairs Notification dated 22.12.2003
VI. Board's Notification dated 24.11.2000
VII. Board's Notification dated 29.1.2001
VIII. Form No. 10 B A

IX. Board Notification dated 9.7.2010 (Infrastructure Bond)
X. Board Notification dated 11.06.2010 (Gratuity)
X. Board notification dated 31.05.2010 & corrigendum dated 19.7.2010