Income Tax deduction from Salaries during the Financial Year 2011-2012

CIRCULAR NO. 05/2011

NEW DELHI, dated 16.08.2011

INCOMETAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOMETAX ACT, 1961 DURING THE FINANCIAL YEAR 2011-2012

Reference is invited to Circular No.08/2010 dated 13.12.2010 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(hereinafter ˜the Act™), during the financial year 2010-2011, 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 2011-2012 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.

Note:  CIRCULAR NO. 05/2011- containing the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2011-2012  attached

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