CBDT Circular on TDS from Salary under 192 for FY 2021-22

CBDT Circular on TDS from Salary under 192 for FY 2021-22 Central Board of Direct Taxes [CBDT] has issued a Circular on TDS from Salary under 192 for FY 2021-22 (AY 2022-23) vide Circular No. 04/2022 dated 15th March 2022 detailing the procedure to be followed by an employer for deducting TDS from the salary income of employees paid during FY 2021-22 or (AY 2022-23). Every year CBDT has Circular on TDS from Salary under 192 prescribing the guidelines to be followed by the employers while deducting the income tax or TDS from the salary income paid to the employees. The Circular deals with the Income-tax deduction from salaries during the Financial Year 2021-22 under section 192 of the Income-tax Act, 1961.

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.

Circular No. 04/2022 contains the gist of all the procedures that an employer is required to be followed while deducting the TDS from the salary income.

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 2021-22 relevant for the AY 2022-23.

Instructions contained in the aforesaid CBDT Circular on Salary TDS for FY 2021-22 are not exhaustive and are issued 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 Finance Act,2020 (No. 12 of2020), the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act. 2020 (No. 38 of 2020), the relevant circulars / notifications. etc. ln case any assistance is required. the Assessing Officer/the Local Public Relation Officer of the Income-tax Oepartment may be contacted.

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