Income Tax Act and Income Tax Calculation for 2013-14 for Employees and Teachers. Income Tax Deduction from Salaries During The Financial Year 2013-14 under Section 192 of the Income Tax, Act.1961. Vide Circular No.08 /2013 F.No. 275/192/2013-IT(B) Dated 10.10.13, Govt of India has released the Guidelines for Calculation of Income Tax for Salaried Employees, Teachers for 2013-14. Reference is invited to Circular No.08/2012 dated 05.10.2012 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 2012-2013, 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 2013-2014 and explains certain related provisions of the Act and Income-tax Rules, 1962.
Income Tax Act and Income Tax Calculation for 2013-14 for AY 2014-15
Income Tax Act and Income Tax Calculation for 2013-14 for Employees and Teachers. Income Tax Deduction from Salaries During The Financial Year 2013-14 under Section 192 of the Income Tax, Act.1961. Vide Circular No.08 /2013 F.No. 275/192/2013-IT(B) Dated 10.10.13, Govt of India has released the Guidelines for Calculation of Income Tax for Salaried Employees, Teachers for 2013-14. Reference is invited to Circular No.08/2012 dated 05.10.2012 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 2012-2013, 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 2013-2014 and explains certain related provisions of the Act and Income-tax Rules, 1962.