CBDT issues important circular on Income Tax Deductions From Salaries During FY 2024-25 [Read Circular]:

CBDT issues important circular on Income Tax Deductions From Salaries During FY 2024-25 [Read Circular] The Central Board of Direct Taxes (CBDT) has issued an important circular on Income Tax Deductions From Salaries During Financial Year 2024-25 under Section 192 of the Income Tax Act 1961. The Present Circular contains amendments via the Finance Act (No. 2) 2024, Finance Act (No. 1) 2024 and Finance Act 2023 related to the deduction of Tax on the Payment of Salaries under Section 192 of the Act. Various amendments related to the slab rates of the New Tax Regime, rebate changes, Exemption on Leave Encashment, etc. are covered in the circular. Amendments in Penalty and Prosecution provisions on default on account of TDS are also covered. Click on the below-mentioned Link to Read the Circular