WebFeb 2, 2024 · a state sales tax. a state excise tax. a local option for cities or towns. 6.25% (state sales tax) 10.75% (state excise tax) up to 3% (local option for cities and towns) … WebApr 13, 2024 · Section 192 of Income Tax Act talks about the tax deduction at the source of salary. The person who pays the salary is responsible to deduct TDS at the time of crediting the salary. The TDS is deducted based on the tax rates applicable to the estimated income of the assessee for a financial year.
TDS on Salary under Section 192 - ClearTax
WebDec 9, 2024 · Circular No. 24/2024, dated 07-12-2024. The Central Board of Direct Taxes (CBDT) has issued a circular for the deduction of tax at source from salaries. CBDT has explained the obligation of employers with regard to the deduction of tax at source from salaries under section 192 of the Income-tax Act, 1961 for the Financial Year 2024-23 in a ... WebDec 5, 2024 · CBDT has issued a Circular on TDS from Salary under 192 for AY 2024-22 (FY 2024-21) vide Circular No. 20/2024 dated 03.12.2024 detailing the procedure to be followed by an employer for deducting TDS from the salary income of employees paid during FY 2024-21 or assessment year (AY) 2024-22. The Circular deals with the Income-tax … brer rabbit\\u0027s christmas carol
Tax Calculator: 2024-2024 Refund and Tax Estimator - NerdWallet
WebNow, Section 192 of Income Tax Act makes any income chargeable under the head “Salary” subject to Tax Deduction at Source (TDS). Since pension is also considered as Salary, … WebApr 13, 2024 · Deduction of TDS under section 192 read with sub-section (1A) of section 115BAC of the Income-tax Act, 1961. Circular No. 04 of 2024 issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, clarifies the procedure for deducting tax at source (TDS) under section 192 read with sub-section (1A) of section … WebTo streamline the process in a hassle-free manner, individuals need to find out more about the provisions under the purview of this tax regime. What is Section 192 of the Income Tax Act? Section 192A of Income Tax Act is concerned with the TDS on premature withdrawal from EPF. It directs the Employees' Provident Fund Scheme, 1952 to deduct TDS ... brer rabbit\u0027s christmas carol 1992