Income tax department issued a circular no. 8/2012 dated 5 October 2012 about tds on salary, income tax deductions on salary, certain rules and regulations of income tax act on salaries, income tax forms and rules and notification for the?financial year 2012-13 and the analysis year 2013-14. Full circular is as under.
SECTION 192 OF THE INCOME-TAX ACT, 1961 - DEDUCTION OF TAX AT SOURCE - SALARY - INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 DURING THE FINANCIAL YEAR 2012-13
CIRCULAR NO. 8/2012 [F.NO. 275/192/2012-IT(B)], DATED 5-10-2012
Reference is invited to Circular No. 05/2011, dated 16-8-2011 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 2011-12, 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 2012-13 and explains certain related provisions of the Income-tax Act, 1961 (hereinafter 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.
2. RATES OF INCOME-TAX AS PER FINANCE ACT, 2012:
As per the Finance Act, 2012, income-tax is required to be deducted under Section 192 of the Income-tax Act 1961 from income chargeable under the head "Salaries" for the financial year 2012-13 (i.e. Assessment Year 2013-14) at the following rates:
2.1 Rates of tax
A. Normal Rates of tax:
| Where the total income does not exceed Rs. 2,00,000/-. | |
| Where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000/-. | 10 per cent of the amount by which the total income exceeds Rs. 2,00,000/- |
| Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. | Rs. 30,000/-?plus?20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. |
| Where the total income exceeds Rs. 10,00,000/-. | Rs. 1,30,000/-?plus?30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
B. Rates of tax for every individual, resident in India, who is of the age of sixty years or more but less than eighty years at any time during the financial year:
| Where the total income does not exceed Rs. 2,50,000/-. | ||
| Where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000/-. | 10 per cent of the amount by which the total income exceeds Rs. 2,50,000/- | |
| Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 10,00,000/-. | Rs. 25,000/-?plus?20 per cent of the amount by which the total income exceeds Rs. 5,00,000/-. | |
| Where the total income exceeds Rs. 10,00,000/-. | Rs. 1,25,000/-?plus?30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
C. In case of every individual being a resident in India, who is of the age of eighty years or more at any time during the financial year:
| Where the total income does not exceed Rs. 5,00,000/-. | ||
| Where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000/-. | 20 per cent of the amount by which the total income exceeds Rs. 5,00,000/- | |
| Where the total income exceeds Rs. 10,00,000/-. | Rs. 1,00,000/-?plus?30 per cent of the amount by which the total income exceeds Rs. 10,00,000/- |
2.2 Surcharge on Income tax:
There will be no surcharge on income tax payments by individual taxpayers during FY 2012-13 (AY 2013-14).
2.3.1 Education Cess on Income tax:
The amount of income-tax shall be increased by Education Cess on Income Tax at the rate of two per cent of the income-tax.
2.3.2 Secondary and Higher Education Cess on Income-tax:
From Financial Year 2007-08 onwards, an additional surcharge is chargeable at the rate of one per cent of income-tax (not including the Education Cess on income-tax).
Education Cess, and Secondary and Higher Education Cess are payable by both resident and nonresident assessees.
3. SECTION 192 OF THE INCOME-TAX ACT, 1961: BROAD SCHEME OF TAX DEDUCTION AT SOURCE FROM "SALARIES":
3.1 Method of Tax Calculation:
Every person who is responsible for paying any income chargeable under the head "Salaries" shall deduct income-tax on the estimated income of the assessee under the head "Salaries" for the financial year 2012-13. The income-tax is required to be calculated on the basis of the rates given above subject to provisions of section 206AA of the Act and shall be deducted at the time of each payment. No tax will, however, be required to be deducted at source in any case unless the estimated salary income including the value of perquisites, for the financial year exceeds Rs. 2,00,000/- or Rs.2,50,000/- or Rs. 5,00,000/-, as the case may be, depending upon the age of the employee. (Some typical examples of computation of tax are given at Annexure-I).
3.2 Payment of Tax on Non-monetary Perquisites by Employer:
An option has been given to the employer to pay the tax on non-monetary perquisites given to an employee. The employer may, at his option, make payment of the tax on such perquisites himself without making any TDS from the salary of the employee. The employer will have to pay such tax at the time when such tax was otherwise deductible i.e. at the time of payment of income chargeable under the head "salaries" to the employee.
3.3 Computation of Average Income Tax:
For the purpose of making the payment of tax mentioned in para 3.2 above, tax is to be determined at the average of income-tax computed on the basis of rate in force for the financial year, on the income chargeable under the head "salaries", including the value of perquisites for which tax has been paid by the employer himself.
ILLUSTRATION:
Suppose that the income chargeable under the head "salaries" of an employee below sixty years of age for the year inclusive of all perquisites is Rs. 4,50,000/-, out of which, Rs. 50,000/- is on account of non-monetary perquisites and the employer opts to pay the tax on such perquisites as per the provisions discussed in para 3.2 above.
STEPS:
| Income Chargeable under the head "Salaries" inclusive of all perquisites | |
| Tax on Total Salaries(including Cess) | |
| Average Rate of Tax [(25,750/4,50,000) ? 100] | |
| Tax payable on Rs.50,000/= (5.72% of 50,000) | |
| Amount required to be deposited each month | Rs. 240 (Rs. 238.4) (=2061/12) |
The tax so paid by the employer shall be deemed to be TDS made from the salary of the employee.
3.4 Salary From More Than One Employer:
Section 192(2) deals with situations where an individual is working under more than one employer or has changed from one employer to another. It provides for deduction of tax at source by such employer (as the taxpayer may choose) from the aggregate salary of the employee who is or has been in receipt of salary from more than one employer. The employee is now required to furnish to the present/chosen employer details of the income under the head "Salaries" due or received from the former/other employer and also tax deducted at source therefrom, in writing and duly verified by him and by the former/other employer. The present/ chosen employer will be required to deduct tax at source on the aggregate amount of salary (including salary received from the former or other employer).
3.5 Relief When Salary Paid in Arrear or Advance:
3.5.1 Under section 192(2A) where the assessee, being a Government servant or an employee in a company, co-operative society, local authority, university, institution, association or body is entitled to the relief under Section 89(1) he may furnish to the person responsible for making the payment referred to in Para (3.1), such particulars in Form No. 10E duly verified by him, and thereupon the person responsible, as aforesaid, shall compute the relief on the basis of such particulars and take the same into account in making the deduction under Para(3.1) above.
Here "University means a University established or incorporated by or under a Central, State or Provincial Act, and includes an institution declared under section 3 of the University Grants Commission Act, 1956(3 of 1956), to be University for the purposes of the Act.
3.5.2 With effect from 1-4-2010 (AY 2010-11), no such relief shall be granted in respect of any amount received or receivable by an assessee on his voluntary retirement or termination of his service, in accordance with any scheme or schemes of voluntary retirement or in the case of a public sector company referred to in section 10(10C)(i) (read with Rule 2BA), a scheme of voluntary separation, if an exemption in respect of any amount received or receivable on such voluntary retirement or termination of his service or voluntary separation has been claimed by the assessee under section 10(10C) in respect of such, or any other, assessment year.
3.6 Income under any Other head: (i) Section 192(2B) enables a taxpayer to furnish particulars of income under any head other than "Salaries" ( not being a loss under any such head other than the loss under the head " income from house property") received by the assessee for the same financial year and of any tax deducted at source thereon. Form no. 12C, which was earlier prescribed for furnishing such particulars, has since been omitted from the Rules by the Income Tax (24th amendment) Rules, 2003, w.e.f. 1-10-2003. However, the particulars may now be furnished in a simple statement, which is properly signed and verified by the taxpayer in the manner as prescribed under Rule 26B(2) of the Rules and shall be annexed to the simple statement. The form of verification is reproduced as under:
I, _________ (name of the assessee), do declare that what is stated above is true to the best of my information and belief.
(ii) Such income should not be a loss under any such head other than the loss under the head "Income from House Property" for the same financial year. DDO shall take such other income and tax deducted at source, if any, on such income and the loss, if any, under the head "Income from House Property" into account for the purpose of computing tax deductible in terms of section 192(2B) of the Act. However, this sub-section shall not in any case have the effect of reducing the tax deductible (except where the loss under the head "Income from House Property" has been taken into account) from income under the head "Salaries" below the amount that would be so deductible if the other income and the tax deducted thereon had not been taken into account'. In other words, the DDO can take into account any loss (negative income) only under the head "income from House Property" and no other head for working out the amount of total tax to be deducted.
(iii) Section 192(2C) lays down that a person responsible for paying any income chargeable under the head "salaries" shall furnish to the person to whom such payment is made a statement giving correct and complete particulars of perquisites or profits in lieu of salary provided to him and the value thereof in Form 12BA (Annexure-II). Form 12BA along with Form 16, as issued by the employer, are required to be produced on demand before the Assessing Officer in terms of Section 139C of the Act.
3.7 Computation of income under the head "Income from house property":
While taking into account the loss from House Property, the DDO shall ensure that the employee files the declaration referred to above and encloses therewith a computation of such loss from House Property. Following details shall be obtained and kept by the employer in respect of loss claimed under the head "Income from house property" separately for each house property:
(a)? Gross annual rent/value
(b)? Municipal Taxes paid, if any
(c)? Deduction claimed for interest paid, if any
(d)? Other deductions claimed
(e)? Address of the property
(f)? Amount of loan, if any; and
(g)? Name and address of the lender (loan provider)
3.7.1 Conditions for Claim of Deduction of Interest on Borrowed Capital for Computation of Income From House Property Section 24(b):
Section 24(b) of the Act allows deduction from income from house property on interest on borrowed capital as under:-
(i)? the deduction is allowed only in case of house property which is owned and in the occupation of the employee for his own residence. However, if it is not actually occupied by the employee in view of his place of the employment being at other place, his residence in that other place should not be in a building belonging to him.
(ii)? The quantum of deduction allowed as per table below:
Sl. No??? Purpose of borrowing capital????? Date of borrowing capital???????????? Maximum Deduction allowable
1????????????? Repair or renewal or reconstruction of the house???????????? Any time????????????? Rs. 30,000/-
2????????????? Acquisition or construction of the house?????????????? Before 01.04.1999??????????? Rs. 30,000/-
3????????????? Acquisition or construction of the house?????????????? On or after 01.04.1999?? Rs. 1,50,000/-
In case of Serial No. 3 above
(a)? The house so acquired or constructed should be completed within3 years from the end of the FY in which the capital was borrowed. Hence it is necessary for the DDO to have the completion certificate of the house property against which deduction is claimed either from the builder or through self-declaration from the employee.
(b)? Further any prior period interest for the FYs up to the FY in which the property was acquired and constructed shall be deducted in equal instalments for the FY in question and subsequent four FYs.
(c)? The employee has to furnish before the DDO a certificate from the person to whom any interest is payable on the borrowed capital specifying the amount of interest payable. In case a new loan is taken to repay the earlier loan, then the certificate should also show the comprehensive picture of Principal and Interest of the loan so repaid.
3.8 Adjustment for Excess or Shortfall of Deduction:
The provisions of Section 192(3) allow the deductor to make adjustments for any excess or shortfall in the deduction of tax already made during the financial year, in subsequent deductions for that employee within that financial year itself.
3.9 Salary Paid in Foreign Currency:
For the purposes of deduction of tax on salary payable in foreign currency, the value in rupees of such salary shall be calculated at the "Telegraphic transfer buying rate" of such currency as on the date on which tax is required to be deducted at source( see Rule 26).
4. PERSONS RESPONSIBLE FOR DEDUCTING TAX AND THEIR DUTIES:
4.1 Section 204 (i) of the Act the "persons responsible for paying" for the purpose of Section 192 means the employer himself or if the employer is a Company, the Company itself including the Principal Officer thereof. Further, as per Section 204(iv), in the case of credit, or as the case may be, if the payment is by or on behalf of Central Government or State Government, the DDO or any other person by whatever name called, responsible for crediting, or as the case may be, paying such sum is the "persons responsible for paying".
4.2 The tax determined as per para 8 should be deducted from the salary u/s 192 of the Act.
4.3. Deduction of Tax at Lower Rate:
If the jurisdictional TDS officer of the Taxpayer issues a certificate of No Deduction or Low Deduction of Tax under section 197 of the Income Tax Act, subsequent to the application filed before him in Form No 13 by the Taxpayer; then the DDO should take into account such certificate and deduct tax on the salary payable at the rates mentioned therein. (see Rule 28AA).
4.4. Deposit of Tax Deducted:
Rule 30 prescribes time and mode of payment of tax deducted at source to the account of Central Government.
4.4.1. Prescribed time of payment/deposit of TDS made to the credit of Central Government account is as under:
(a) In case of an Office of Government:
Sl. No.?? Description???????? Time up to which to be deposited.
1????????????? Tax deposited without Challan [Book Entry]??????? SAME DAY
2????????????? Tax deposited with Challan????????? 7TH DAY NEXT MONTH
3????????????? Tax on perquisites opt to be deposited by the employer.????????????? 7TH DAY NEXT MONTH
(b) In any case other than an Officer of Government
Sl. No.?? Description??????? Time up to which to be deposited.
1????????????? Tax deductible in March??????????????? 30th APRIL NEXT FINANCIAL YEAR
2????????????? Tax deductible in any other month????????? 7TH DAY NEXT MONTH
3????????????? Tax on perquisites opt to be deposited by the employer?????????????? 7TH DAY NEXT MONTH
However, if a DDO applies before the jurisdictional Additional/Joint Commissioner of Income Tax to permit quarterly payments of TDS under section 192, the Rule 30(3) allow for payments on quarterly basis and time given in Table below:
Sl. No.?? Quarter to the financial year ended on? Date for quarterly payment
1????????????? 30th June??????????? 7th July
2????????????? 30th September?????????????? 7th October
3????????????? 31st December 7th January
4????????????? 31st March????????? 30th April next Financial Year
4.4.2 Mode of Payment of TDS
4.4.2.1 Payment by Book Entry:
In the case of an office of the Government, where tax has been paid to the credit of the Central Government without the production of a challan [Book Entry], the Pay and Accounts Officer or the Treasury Officer or the Cheque Drawing and Disbursing Officer or any other person by whatever name called to whom the deductor reports the tax so deducted and who is responsible for crediting such sum to the credit of the Central Government, shall-
(a)? submit a statement in Form No. 24G within ten days from the end of the month to the agency authorized by the Director General of Income-tax (Systems) [TIN Facilitation Centres currently managed by M/s National Securities Depository Ltd.] in respect of tax deducted by the deductors and reported to him for that month; and
(b)? intimate the number (hereinafter referred to as the Book Identification Number or BIN) generated by the agency to each of the deductors in respect of whom the sum deducted has been credited. BIN consist of receipt number of Form 24G, DDO sequence number and date on which tax is deposited.
The procedure of furnishing Form 24G is detailed in Annexure IV. PAOs/DDOs should go through the FAQs therein to understand the correct process to be followed.
4.4.2.2 Payment by an Income Tax Challan:
(i)? In such a case the amount of tax so deducted shall be deposited to the credit of the Central Government by remitting it within the time specified in Table 4.4.1 above into any branch of the Reserve Bank of India or of the State Bank of India or of any authorized bank;
(ii)? In case of a company and a person (other than a company), to whom provisions of section 44AB are applicable, the amount deducted shall be electronically remitted into the Reserve Bank of India or the State Bank of India or any authorised bank accompanied by an electronic income-tax challan.
The amount shall be construed as electronically remitted to the Reserve Bank of India or to the State Bank of India or to any authorized bank, if the amount is remitted by way of:
(a)? internet banking facility of the Reserve Bank of India or of the State Bank of India or of any authorized bank; or
(b)? debit card (Notification No.41/2010, dated 31st May, 2010)
4.5 Interest, Fee, Penalty & Prosecution for Failure to Deposit Tax Deducted:
If a person fails to deduct the whole or any part of the tax at source, or, after deducting, fails to pay the whole or any part of the tax to the credit of the Central Government within the prescribed time as under:
4.5.1 He shall be liable to action in accordance with the provisions of section 201. Section 201(1A) lays down that such person shall be liable to pay simple interest
?(i)? at 1% for every month or part of the month on the amount of such tax from the date on which such tax was deductible to the date on which such tax is deducted and
(ii)? at one and one-half per cent for every month or part of a month on the amount of such tax from the date on which such tax was deducted to the date on which such tax is actually paid.
Such interest, if chargeable, is mandatory in nature and has to be paid before furnishing of quarterly statement of TDS for respective quarter.
4.5.2 Section 271C lays down that if any person fails to deduct whole or any part of tax at source or fails to pay the whole or part of tax deducted, he shall be liable to pay, by way of penalty, a sum equal to the amount of tax not deducted or paid by him.
4.5.3 Further, section 276B lays down that if a person fails to pay to the credit of the Central Government within the prescribed time, as above, the tax deducted at source by him, he shall be punishable with rigorous imprisonment for a term which shall be between 3 months and 7 years, along fine.
4.6 Furnishing of Certificate for Tax Deducted (Section 203):
4.6.1 Section 203 requires the DDO to furnish to the employee a certificate in Form 16 detailing the amount of TDS and certain other particulars. The Act stipulates that the Form 16 should be furnished to the employee by 31st May after the end of the financial year in which the income was paid and tax deducted. Even the banks deducting tax at the time of payment of pension are required to issue such certificates. Revised Form 16 annexed to Notification dated 31-5-2010 is enclosed. The certificate in Form 16 shall specify
(a)? Valid permanent account number (PAN) of the deductee;
(b)? Valid tax deduction and collection account number (TAN) of the deductor;
(c)? (i) Book identification number or numbers (BIN) where deposit of tax deducted is without production of challan in case of an office of the Government;
(ii) Challan identification number or numbers (CIN*) in case of payment through bank.
(d)? Receipt numbers of all the relevant quarterly statements in case the statement referred to in clause (i) is for tax deducted at source from income chargeable under the head "Salaries". The receipt number of the quarterly statement is of 8 digit.
It may be noted that under the new TDS procedure, the accuracy and availability of TAN, PAN and receipt number of TDS statement filed by the deductor will be unique identifier for granting online credit for TDS. Hence due care should be taken in filling these particulars.
Due care should be also be taken in indicating correct CIN/ BIN in TDS certificate.
If the DDO fails to issue these certificates to the person concerned, as required by section 203, he will be liable to pay, by way of penalty, under section 272A(2)(g), a sum which shall be Rs. 100/-for every day during which the failure continues.
It is, however, clarified that there is no obligation to issue the TDS certificate in case tax at source is not deductible/deducted by virtue of claims of exemptions and deductions.
4.6.2 If an assessee is employed by more than one employer during the year, each of the employers shall issue Part A of the certificate in Form No. 16 pertaining to the period for which such assessee was employed with each of the employers and Part B may be issued by each of the employers or the last employer at the option of the assessee.
4.6.3 The employer may issue a duplicate certificate in Form No. 16 if the deductee has lost the original certificate so issued and makes a request for issuance of a duplicate certificate and such duplicate certificate is certified as duplicate by the deductor.
4.6.4. Authentication by Digital Signatures:
(i)? Where a certificate is to be furnished in Form No. 16, the deductor may, at his option, use digital signatures** to authenticate such certificates.
(ii)? In case of certificates issued under clause (i), the deductor shall ensure that
?(a)? the conditions prescribed in para 4.6.1 above are complied with;
?(b)? once the certificate is digitally signed, the contents of the certificates are not amenable to change; and
?(c)? the certificates have a control number and a log of such certificates is maintained by the deductor.
Challan identification number (CIN) means the number comprising the Basic Statistical Returns (BSR) Code of the Bank branch where the tax has been deposited, the date on which the tax has been deposited and challan serial number given by the bank.
? ?? The digital signature is being used to authenticate most of the e-transactions on the internet as transmission of information using digital signature is failsafe. It saves time specially in organisations having large number of employees where issuance of certificate of deduction of tax with manual signature is time consuming (Circular no. 2 of 2007, dated 21-5-2007)
4.6.5. Furnishing of particulars pertaining to perquisites, etc (Section 192(2C):
4.6.5.1 As per section 192(2C), the responsibility of providing correct and complete particulars of perquisites or profits in lieu of salary given to an employee is placed on the person responsible for paying such income i.e., the person responsible for deducting tax at source. The form and manner of such particulars are prescribed in Rule 26A, Form 12BA and Form 16 of the Rules. Information relating to the nature and value of perquisites is to be provided by the employer in Form 12BA in case salary paid or payable is above Rs.2,00,000/-. In other cases, the information would have to be provided by the employer in Form 16 itself.
4.6.5.2 An employer, who has paid the tax on perquisites on behalf of the employee as per the provisions discussed in paras 3.2 and 3.3 of this circular, shall furnish to the employee concerned, a certificate to the effect that tax has been paid to the Central Government and specify the amount so paid, the rate at which tax has been paid and certain other particulars in the amended Form 16.
4.6.5.3 The obligation cast on the employer under Section 192(2C) for furnishing a statement showing the value of perquisites provided to the employee is a crucial responsibility of the employer, which is expected to be discharged in accordance with law and rules of valuation framed there under. Any false information, fabricated documentation or suppression of requisite information will entail consequences thereof provided under the law. The certificates in Forms 16 and/or Rule 12BA specified above, shall be furnished to the employee by 31st May of the financial year immediately following the financial year in which the income was paid and tax deducted. If he fails to issue these certificates to the person concerned, as required by section 192(2C), he will be liable to pay, by way of penalty, under section 272A(2)(i), a sum which shall be Rs. 100/- for every day during which the failure continues.
4.7 Mandatory Quoting of PAN and TAN:
4.7.1 Section 203A of the Act makes it obligatory for all persons responsible for deducting tax at source to obtain and quote the Tax-deduction Account No (TAN) in the challans, TDS- certificates, statements and other documents. Detailed instructions in this regard are available in this Department's Circular No.497 [F.No.275/118/87-IT(B), dated 9-10-1987]. If a person fails to comply with the provisions of section 203A, he will be liable to pay, by way of penalty, under section 272BB, a sum of ten thousand rupees. Similarly, as per Section 139A(5B), it is obligatory for persons deducting tax at source to quote PAN of the persons from whose income-tax has been deducted in the statement furnished u/s 192(2C), certificates furnished u/s 203 and all returns prepared and delivered as per the provisions of section 200(3) of the Act.
4.7.2 All tax deductors are required to file the TDS returns in Form No.24Q (for tax deducted from salaries). As the requirement of filing TDS/TCS certificates, by the employee along with the return of income, has been done away with, the lack of PAN of deductees is creating difficulties in giving credit for the tax deducted. Tax deductors and tax collectors are, therefore, advised to quote correct PAN details of all deductees in the TDS returns for salaries in Form 24Q. Taxpayers liable to TDS are also advised to furnish their correct PAN with their deductors. It may be noted that non-furnishing of PAN by the deductee (employee) to the deductor (employer) will result in deduction of TDS at higher rates u/s 206AA of the Act mentioned in para 4.8 below.
4.8 Compulsory Requirement to furnish PAN by employee (Section 206AA):
4.8.1 Section 206AA in the Act makes furnishing of PAN by the employee compulsory in case of receipt of any sum or income or amount, on which tax is deductible. If employee (deductee) fails to furnish his/her PAN to the deductor, the deductor has been made responsible to make TDS at higher of the following rates:
(i)? at the rate specified in the relevant provision of this Act; or
(ii)? at the rate or rates in force; or
(iii)? at the rate of twenty per cent.
The deductor has to determine the tax amount in all the three conditions and apply the higher rate of TDS. However, where the income of the employee computed for TDS u/s 192 is below taxable limit, no tax will be deducted. But where the income of the employee computed for TDS u/s 192 is above taxable limit, the deductor will calculate the average rate of income-tax based on rates in force as provided in sec 192. If the tax so calculated is below 20%, deduction of tax will be made at the rate of 20% and in case the average rate exceeds 20%, tax is to be deducted at the average rate. Education cess @ 2% and Secondary and Higher Education Cess @ 1% is not to be deducted, in case the TDS is deducted at 20% u/s 206AA of the Act.
4.9 Statement of deduction of tax under section 200(3) [Quarterly Statement of TDS]:
4.9.1. The person deducting the tax (employer in case of salary income), is required to file duly verified Quarterly Statements of TDS in Form 24Q for the periods [details in Table below] of each financial year, to the Director General of Income Tax (Systems), ARA centre, Jhandewalan Extn., New Delhi or TIN/facilitation Centres authorized by DGIT (System's) which is currently managed by M/s National Securities Depository Ltd. (NSDL). The requirement of filing an annual return of TDS has been done away with w.e.f. 1-4-2006. The quarterly statement for the last quarter filed in Form 24Q (as amended by Notification No. S.O.704(E), dated 12-5-2006) shall be treated as the annual return of TDS. Due dates of filing this statement quarterwise is as in the Table below.
TABLE: Dates of filing Quarterly Statements E-TDS Return 24Q
Sl. No??? Return for Quarter ending?????????? Due date for Government Offices??????????? Due date for Other Deductors
1????????????? 30th June? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?31st July?????????????? 15th July
2????????????? 30th September? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?31st October????? 15th October
3????????????? 31st December? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?31st January?????? 15th January
4????????????? 31st March? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ??15th May???????????? 15th May
4.9.2. The statements referred above may be furnished in paper form or electronically in accordance with the procedures, formats and standards specified by the Director General of Income-tax (Systems) along with the verification of the statement in Form 27 A.
4.9.3. All Returns in Form 24Q are required to be furnished in computer media except in case where the number of deductee records is less than 20. This is in accordance with the "Electronic Filing of Returns of Tax Deducted at Source Scheme, 2003" as notified vide Notification No. S.O. 974 (E), dated 26-8-2003 read with Notification No. SO 1261(E), dated 31-5-2010. Deductors have to file quarterly statements with the e-TDS Intermediary at any of the TIN Facilitation Centres, particulars of which are available at http://www.incometaxindia.gov.in and at http://tin-nsdl.com.
4.9.4 Fee for default in furnishing statements (Section 234E):
If a person fails to deliver or caused to be delivered a statement within the time prescribed in Section 200(3) in respect of tax deducted at source on or after 1-7-2012 he shall be liable to pay, by way of fee a sum of Rs. 200 for every day during which the failure continues. However, the amount of such fee shall not exceed the amount of tax which was deductible at source. This fee is mandatory in nature and to be paid before furnishing of such statement.
4.9.5 Penalty for failure in furnishing statements (section 271H):
If a person fails to deliver or caused to be delivered a statement within the time prescribed in section 200(3) in respect of tax deducted at source on or before 30-6-2012, he shall be liable to pay, by way of penalty, a sum of Rs. 100 for every day during which the failure continues, [section 272A(2)(k)]. However, the amount of such fee shall not exceed the amount of tax which was deductible at source.
If a person fails to deliver or caused to be delivered a statement within the time prescribed in section 200(3) in respect of tax deducted at source on or after 1-7-2012, he shall be liable to pay, by way of penalty a sum which shall not be less than Rs. 10,000/- but which may extend to Rs 1,00,000/-. However, the penalty shall not be levied if the person proves that after paying TDS with the fee and interest, if any, to the credit of Central Government, he had delivered such statement before the expiry of one year from the time prescribed for delivering the statement.
4.9.6 Penalty for furnishing incorrect information (section 271H)
If a person furnishes incorrect information in the statement in respect of tax deducted at source on or after 1-7-2012, he shall be liable to pay penalty which shall not be less than Rs. 10,000/- but which may extend to Rs. 1,00,000/-.
4.9.7. At the time of preparing statements of tax deducted, the deductor is required to mandatorily quote:
?(i)? his tax deduction and collection account number (TAN) in the statement;
(ii)? quote his permanent account number (PAN) in the statement except in the case where the deductor is an office of the Government including State Government). In case of Government deductors "PANNOTREQD" to be quoted in the e-TDS statement;
(iii)? quote the permanent account number PAN of all deductees;
(iv) furnish particulars of the tax paid to the Central Government including book identification number or challan identification number, as the case may be.
(v)? furnish particular of amounts paid or credited on which tax was not deducted in view of the issue of certificate of no deduction of tax u/s 197 by the assessing officer of the payee.
4.10 TDS on Income from Pension:
In the case of pensioners who receive their pension from a nationalized bank, the instructions contained in this circular shall apply in the same manner as they apply to salary-income. The deductions from the amount of pension under section 80C on account of contribution to Life Insurance, Provident Fund, NSC etc., if the pensioner furnishes the relevant details to the banks, may be allowed. Necessary instructions in this regard were issued by the Reserve Bank of India to the State Bank of India and other nationalized Banks vide RBI's Pension Circular(Central Series) No.7/C.D.R./1992 (Ref. CO: DGBA: GA (NBS) No.60/GA.64(11 CVL)-/92), dated the 27th April, 1992, and, these instructions should be followed by all the branches of the Banks, which have been entrusted with the task of payment of pensions. Further all branches of the banks are bound u/s 203 to issue certificate of tax deducted in Form 16 to the pensioners also vide CBDT circular no. 761, dated 13-1-1998.
4.11 New Pension Scheme:
The New Pension Scheme(NPS) has become operational since 1st Jan. 2004 and is mandatory for all new recruits to the Central Government Services from 1st January, 2004. Since then it has been opened to employees of State Governments, Private Sector and Self Employed. The income received by the NPS trust is exempt. The NPS trust is exempted from the Dividend Distribution Tax and is also exempted from the Securities Transaction Tax on all purchases and sales of equities and derivatives. The NPS trust will also receive income without tax deduction at source. The above amendments are retrospectively effective from 1-4-2009 (AY 2009-10) onwards.
4.12. Matters pertaining to the TDS made in case of Non-Resident:
4.12.1 Where Non-Residents are deputed to work in India and taxes are borne by the employer, if any refund becomes due to the employee after he has already left India and has no bank account in India by the time the assessment orders are passed, the refund can be issued to the employer as the tax has been borne by it [Circular No. 707, dated 11-7-1995].
4.12.2 In respect of non-residents, the salary paid for services rendered in India shall be regarded as income earned in India. It has been specifically provided in the Act that any salary payable for rest period or leave period which is both preceded or succeeded by service in India and forms part of the service contract of employment will also be regarded as income earned in India.
5. Computation of Income Under the Head "Salaries"
5.1 Income chargeable under the head "Salaries":
(1) The following income shall be chargeable to income-tax under the head "Salaries" :
(a)? any salary due from an employer or a former employer to an assessee in the previous year, whether paid or not;
(b)? any salary paid or allowed to him in the previous year by or on behalf of an employer or a former employer though not due or before it became due to him.
(c)? any arrears of salary paid or allowed to him in the previous year by or on behalf of an employer or a former employer, if not charged to income-tax for any earlier previous year.
(2) For the removal of doubts, it is clarified that where any salary paid in advance is included in the total income of any person for any previous year it shall not be included again in the total income of the person when the salary becomes due.
Any salary, bonus, commission or remuneration, by whatever name called, due to, or received by, a partner of a firm from the firm shall not be regarded as "Salary".
5.2 Definition of "Salary", "perquisite" and "profit in lieu of salary" (Section 17):
5.2.1 "Salary" includes:-
? i.? wages, fees, commissions, perquisites, profits in lieu of, or, in addition to salary, advance of salary, annuity or pension, gratuity, payments in respect of encashment of leave etc.
?ii.? the portion of the annual accretion to the employee's account in to the balance credit of the employee participating in a recognized provident fund as consists of { Rule 6 of Part A of the Fourth Schedule of the Act}:
(a)? Contributions made by the employer to the account of the employee in a recognized provident fund in excess of 12% of the salary of the employee,
(b)? Interest credited on the balance to the credit of the employee in so far as it is allowed at a rate exceeding such rate as may be fixed by Central Government. [w.e.f. 1-9-2010 rate is fixed at 9.5% - Notification No. SO 1046(E), dated 13-5-2011]
iii.? Any contribution made by the Central Government or any other employer to the account of the employee under the New Pension Scheme as notified vide Notification F.N. 5/7/2003-ECB&PR, dated 22-12-2003 (enclosed as Annexure) referred to in section 80CCD (para 5.4(C) of this Circular) shall also be included in the salary income.
It may be noted that, since salary includes pensions and tax at source would have to be deducted from pension also, if otherwise called for. However, no tax is required to be deducted from the commuted portion of pension to the extent exempt under section 10 (10A).
Family Pension is chargeable to tax under head 'income from other sources' and not under the head 'salary'. Therefore, provisions of section 192 of the Act are not applicable.
5.2.2 Perquisite includes:
? I.? The value of rent free accommodation provided to the employee by his employer;
?II.? The value of any concession in the matter of rent in respect of any accommodation provided to the employee by his employer;
III.? The value of any benefit or amenity granted or provided free of cost or at concessional rate in any of the following cases:
?(i)? By a company to an employee who is a director of such company;
(ii)? By a company to an employee who has a substantial interest in the company;
(iii)? By an employer (including a company)to an employee, who is not covered by (i) or (ii) above and whose income under the head 'Salaries' (whether due from or paid or allowed by one or more employers), exclusive of the value of all benefits and amenities not provided by way of monetary payment, exceeds Rs.50,000/-.
[What constitutes concession in the matter of rent have been prescribed in Explanation 1 to 4 below section 17(2)(ii) of the Income Tax Act, 1961]
IV.? Any sum paid by the employer in respect of any obligation which would have been paid by the assessee.
V.? Any sum payable by the employer, whether directly or through a fund, other than a recognized provident fund or an approved superannuation fund or other specified funds u/s 17, to effect an assurance on the life of an assessee or to effect a contract for an annuity.
VI.? With effect from 1-4-2010 (AY 2010-11) it is further clarified that the value of any specified security or sweat equity shares allotted or transferred, directly or indirectly, by the employer, or former employer, free of cost or at concessional rate to the assessee, shall constitute a perquisite in the hand of employees.
Here
(a)? "specified security" means the securities as defined in section 2(h) of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and, where employees' stock option has been granted under any plan or scheme therefore, includes the securities offered under such plan or scheme;
(b)? "sweat equity shares" means equity shares issued by a company to its employees or directors at a discount or for consideration other than cash for providing know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called;
(c)? the value of any specified security or sweat equity shares shall be the fair market value of the specified security or sweat equity shares, as the case may be, on the date on which the option is exercised by the assessee as reduced by the amount actually paid by, or recovered from the assessee in respect of such security or shares;
(d)? "fair market value" means the value determined in accordance with the method as may be prescribed;
(e)? "option" means a right but not an obligation granted to an employee to apply for the specified security or sweat equity shares at a predetermined price;
VII.? The amount of any contribution to an approved superannuation fund by the employer in respect of the assessee, to the extent it exceeds one lakh rupees; and
VIII? The value of any other fringe benefit or amenity as may be prescribed.
5.2.2A Rules for valuation of perquisite are as under : -
5.2.2A.1 Non-Monetary perquisites: Non-monetary benefits are those that are not provided by way of monetary payments to the employees
I. Residential Accommodation provided by the employer:-
"Accommodation" includes a house, flat, farm house, hotel accommodation, motel, service apartment, guest house, a caravan, mobile home, ship etc.
A. Valuation of the perquisite of rent free unfurnished accommodation, all employees are divided into two categories:
(i)? For employees of the Central and State Governments the value of perquisite shall be equal to the licence fee charged for such accommodation as reduced by the rent actually paid by the employee.
(ii)? For all others, i.e., those salaried taxpayers not in employment of the Central Government and the State Government, the valuation of perquisite in respect of accommodation would be at prescribed rates, as discussed below:
(a)? Where the accommodation provided to the employee is owned by the employer:
??????????????? Sl No .?? Cities having population as per the 2001 census Perquisite
??????????????? 1????????????? Exceeds 25 lakh??????????????? 15% of salary
??????????????? 2????????????? Exceeds 10 lakhs but does not exceed 25 lakhs? 10% of salary
??????????????? 3????????????? For other places?????????????? 7.5 % of salary
(b)? Where the accommodation so provided is taken on lease/ rent by the employer:
The prescribed rate is 15% of the salary or the actual amount of lease rental payable by the employer, whichever is lower, as reduced by any amount of rent paid by the employee. Meaning of 'Salary 'for the purpose of calculation of perquisite in respect of Residential Accommodation :
?a.? Basic Salary;
?b.? Dearness Allowance, if terms of employment so provide ;
?c.? Bonus ;
?d.? Commission ;
?e.? Fees ;
?f.? All other taxable allowances (excluding the portion not taxable ); and
?g.? Any monetary payment which is chargeable to tax (by whatever name called).
Further, Salary should be calculated on 'accrual' basis. Advance salary shall not be taken into consideration for this purpose. Salary from all employers shall be taken into consideration in respect of the period during which an accommodation is provided. Where on account of the transfer of an employee from one place to another, he is provided with accommodation at the new place of posting while retaining the accommodation at the other place, the value of perquisite shall be determined with reference to only one such accommodation which has the lower value for a period not exceeding 90 days and thereafter the value of perquisite shall be charged for both such accommodation.
B Valuation of the perquisite of furnished accommodation, the value of perquisite as determined by the above method (in A) shall be increased by-
(i)? 10%o of the cost of furniture, appliances and equipments, or
(ii)? where the furniture, appliances and equipments have been taken on hire, by the amount of actual hire charges payable as reduced by any charges paid by the employee himself.
It is added that where the accommodation is provided by the Central Government or any State Government to an employee who is serving on deputation with anybody or undertaking under the control of such Government,-
(i)? the employer of such an employee shall be deemed to be that body or undertaking where the employee is serving on deputation; and
(ii)? the value of perquisite of such an accommodation shall be the amount calculated in accordance with Table in (ii)(a) above, as if the accommodation is owned by the employer.
C. Furnished Accommodation in a Hotel: The value of perquisite shall be determined on the basis of lower of the following two:
?1.? 24% of salary paid or payable in respect of period during which the accommodation is provided.
?2.? Actual charges paid or payable by the employer to such hotel.
for the period during which such accommodation is provided as reduced by any rent actually paid or payable by the employee.
However, nothing in C shall be taxable if following two conditions are satisfied :
?1.? The hotel accommodation is provided for total period not exceeding in aggregate 15 days in a previous year.
?2.? Such accommodation is provided on an employee's transfer from one place to another place.
It may be clarified that while services provided as an integral part of the accommodation, need not be valued separately as perquisite, any other services over and above that for which the employer makes payment or reimburses the employee shall be valued as a perquisite as per the residual clause. In other words, composite tariff for accommodation will be valued as per the Rules and any other charges for other facilities provided by the hotel will be separately valued under the residual clause.
D. If on account of an employee's transfer from one place to another, the employee is provided with accommodation at the new place of posting while retaining the accommodation at the other place, the value of perquisite shall be determined with reference to only one such accommodation which has the lower value as per the table prescribed in Rule 3 of the Rules, for a period up to 90 days. However, after that the value of perquisite shall be charged for both accommodations as prescribed.
E. However, the value of any accommodation provided to an employee working at a mining site or an on-shore oil exploration site or a project execution site or a dam site or a power generation site or an off-shore site will not be treated as a perquisite if:
(i)? such accommodation should either be located in a "remote area" or
(ii)? where it is not located in a "remote area", the accommodation should be of a temporary nature having plinth area of not more than 800 square feet and should not be located within 8 kilometers of the local limits of any municipality or cantonment board.
A project execution site here means a site of project up to the stage of its commissioning. A "remote area" means an area located at least 40 kilometers away from a town having a population not exceeding 20,000 as per the latest published all-India census.
II Personal attendants etc.: The value of free service of all personal attendants including a sweeper, gardener and a watchman is to be taken at actual cost to the employer. Where the attendant is provided at the residence of the employee, full cost will be taxed as perquisite in the hands of the employee irrespective of the degree of personal service rendered to him. Any amount paid by the employee for such facilities or services shall be reduced from the above amount.
III Gas, electricity & water: Value of perquisite shall be determined at the amount paid or payable by the employer as reduced by the amount recovered if any, from the employee. It is taxable in the hands of all employees (whether specified or not) provided that the Water supply or electric connection is in the name of the employee and expenses are reimbursed by the employer. If, however, the Water supply or electric connection is in the name of the employer and the expenses are borne by the employer, perquisite is taxable only in the hands of specified employees.
Meaning of' Specified Employee' :
?1.? Director Employee.
?2.? An employee having substantial interest (Beneficial owner of equity shares carrying 20% or more voting power).
?3.? An employee whose income chargeable under the head 'Salaries' (exclusive of the value of all benefits or amenities not provided by way of monetary payments) exceeds Rs.50,000/-.
Where the supply is made from the employer's own resources, the manufacturing cost per unit incurred by the employer would be taken for the valuation of perquisite. Any amount paid by the employee for such facilities or services shall be reduced from the above amount.
IV Free or concessional education: Perquisite on account of free or concessional education shall be valued in a manner assuming that such expenses are borne by the employee, and would cover cases where an employer is running, maintaining or directly or indirectly financing the educational institution. Any amount paid by the employee for such facilities or services shall be reduced from the above amount. However, where such educational institution itself is maintained and owned by the employer or where such free educational facilities are provided in any institution by reason of his being in employment of that employer, the value of the perquisite to the employee shall be determined with reference to the cost of such education in a similar institution in or near the locality if the cost of such education or such benefit per child exceeds Rs.1000/- p.m.
V Interest free or concessional loans: It is common practice, particularly in financial institutions, to provide interest free or concessional loans to employees or any member of his household. The value of perquisite arising from such loans would be the excess of interest payable at prescribed interest rate over interest, if any, actually paid by the employee or any member of his household. The prescribed interest rate would now be the rate charged per annum by the State Bank of India as on the 1st day of the relevant financial year in respect of loans of same type and for the same purpose advanced by it to the general public. Perquisite value would be calculated on the basis of the maximum outstanding monthly balance method. For valuing perquisites under this rule, any other method of calculation and adjustment otherwise adopted by the employer shall not be relevant.
However, small loans up to Rs. 20,000/- in the aggregate are exempt. Loans for medical treatment specified in Rule 3A are also exempt, provided the amount of loan for medical reimbursement is not reimbursed under any medical insurance scheme. Where any medical insurance reimbursement is received, the perquisite value at the prescribed rate shall be charged from the date of reimbursement on the amount reimbursed, but not repaid against the outstanding loan taken specifically for this purpose.
VI Use of assets: It is common practice for an asset owned by the employer to be used by the employee or any member of his household. This perquisite is to be charged at the rate of 10% of the original cost of the asset as reduced by any charges recovered from the employee for such use. However, the use of Computers and Laptops would not give rise to any perquisite.
VII Transfer of assets: Often an employee or member of his household benefits from the transfer of movable asset (not being shares or securities) at no cost or at a cost less than its market value from the employer. The difference between the original cost of the movable asset (not being shares or securities) and the sum, if any, paid by the employee, shall be taken as the value of perquisite. In case of a movable asset, which has already been put to use, the original cost shall be reduced by a sum of 10% of such original cost for every completed year of use of the asset. Owing to a higher degree of obsolescence, in case of computers and electronic gadgets, however, the value of perquisite shall be worked out by reducing 50% of the actual cost by the reducing balance method for each completed year of use. Electronic gadgets in this case means data storage and handling devices like computer, digital diaries and printers. They do not include household appliance (i.e. white goods) like washing machines, microwave ovens, mixers, hot plates, ovens etc. Similarly, in case of cars, the value of perquisite shall be worked out by reducing 20% of its actual cost by the reducing balance method for each completed year of use.
VIII Membership fees and Annual Fees Credit Card: Any membership fees and annual fees incurred by the employee (or any member of his household), which is charged to credit card (including any add-on card) is taxable on the following basis:
Amount of expenditure incurred by the employer?????????? ?????????????? XXX
Less : Expenditure on use for official purposes? ? ? ? ? ? ??XXX???????
Less : Amount, if any, recovered from the employee????? XXX? ? ? ? ?
Amount taxable as non- monetary perquisite???? ? ? ? ? ? ? ? ? ? ? ? ? ? ? XXX
IX Club Expenditure:
Any annual or periodical fees, on Club facility used by the employee (or any member of his household), which is paid or reimbursed by the employer is taxable on the following basis:
Amount of expenditure incurred by the employer?????????? ?????????????? XXX
Less : Expenditure on use for official purposes?? ? ? ? ? ? ??XXX
Less : Amount, if any, recovered from the employee????? XXX? ? ? ??
Amount taxable as non- monetary perquisite???? ? ? ? ? ? ? ? ? ? ? ? ? ? ?XXX
Note: (1) Health club, sport facilities etc. provided uniformly to all classes of employee by the employer at the employer's premises and expenditure incurred on them are exempt. (2) The initial one-time deposits or fees for corporate or institutional membership, where benefit does not remain with a particular employee after cessation of employment are exempt. Initial fees / deposits, in such case, is not included.
IXA Value of Subsidized / Free Lunch provided by employer to an employee:
Value of taxable perquisite is calculated as under:
Expenditure incurred by the employer on the value of food /non-alcoholic including paid vouchers which are not transferable and usable only at eating joints?????? ?????????????? XXX
Less: Fixed value of a sum of Rs. 50/- per meal?? XXX???????
Less: Amount recovered from the employee? ? ? ??XXX? ? ? ?
Balance amount is the taxable non- monetary perquisites on value of food provided to the employees ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?XXX
Note : Exemption is given in following situations :
?1.? Tea / snacks provided in working hours.
?2.? Food & non-alcoholic beverages provided in working hours in remote area or in an offshore installation.
X Holiday Facility maintained by employer:
If a Holiday facility is maintained by the employer and is available uniformly to all employees, the value of such benefit would be exempted.
5.2.2A.2 Monetary perquisites:
XI Vehicle Maintenance reimbursement:
(a)? Use of any vehicle provided by the employer to an employee for journey by him from his residence to office or from office to his residence shall not be chargeable to tax.
(b)? Where the car is owned by the employee or employer and maintenance & running expenses including driver salary, are met by the employer and if the car is used wholly for official purposes, no value shall be taken as perquisite provided :
?? i.? The employer has maintained complete details of the journey undertaken for official purposes;
? ii.? The employer gives a certificate that the expenditure was incurred wholly for official duties.
Section 10(14) includes only those allowances which are not in the nature of perquisite within the meaning of section 17(2). Vehicle maintenance reimbursement falls within the purview of section 17(2). Hence, this exemption is not available to the employees claiming vehicle reimbursement for official purposes. Conveyance allowance to the extent of Rs 800/- p.m. or Rs. 1600 p.m (for a blind person) is allowable to all employees other than those claiming Vehicle reimbursement to meet the expenditure for the purpose of commuting between place of residence and place of office.
XII House Cleaning reimbursement:
The value of benefit to the employee (or any member of the household), shall be the actual cost to the employer as reduced by the amount if any recovered from the employee. If a domestic servant is engaged by the employee, the perquisite is taxable in the hands of all employees (Whether specified or not). If a domestic servant is engaged by the employer, the perquisite is taxable in the hands of only specified employees. If Domestic Servant allowance is given to the employee, it is chargeable to tax as perquisite even if the allowance is used for engaging a domestic servant.
XIII Book Grant reimbursement:
If actual bills are provided it forms nature of reimbursement which is not taxable if it can be proved that acquisition of books is necessary for the purpose of the business.
XIV Staff Furnishing Scheme:
It is a business expenditure if it can be proved that incurring such expense is necessary for the purpose of the business.
XV Brief Case reimbursement:
It is a business expenditure if it can be proved that incurring such expense is necessary for the purpose of the business.
XVI Entertainment allowance:
Any entertainm
Source: http://www.taxalertindia.com/2012/10/tds-on-salary-and-income-tax-on-salary.html
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