CBDT issued Circular on TDS deduction from salaries for FY 2018-19

CBDT issued Circular on TDS deduction from salaries for FY 2018-19: Income Tax Deptt./ CBDT has issued CIRCULAR NO : 01 /2019 dt. 1 Jan. 2019 containing instructions on the provisions/ TDS rates applicable i respect of salary payment u/s 192 during the Financial Year 2018-19 (Assessment Year 2019-20), including explanations on many other related issues/ provisions under the Income Tax Act/ Rules. It may be reiterated that the instructions contained in the aforesaid CBDT Circular on Salary TDS for FY 2018-19, are not exhaustive and are issued by the CBDT only with a view to guide the employers / employees 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 2015, the relevant circulars / notifications, etc 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 2018-19 and explains certain related provisions of the Act and Income-tax Rules, 1962 CIRCULAR NO : 01 /2019 F.No. 275/192/2018-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** North Block, New Delhi Dated the 1st January, 2019 SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2018-19 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 Reference is invited to Circular No. 29/2017 dated 05.12.2017 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 2017-18, 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 2018-19 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. To Download Full Circular Click Here