TMI BlogDeduction of tax at source--Income-tax deduction from salaries during the financial year 1980-81, from non-Government employees whose estimated annual income does not exceed Rs. 12,000--Adjustment ofX X X X Extracts X X X X X X X X Extracts X X X X ..... estimated annual income does not exceed Rs. 12,000--Adjustment of Circular No. 283 Dated 25/9/1980 I am directed to invite your attention to Board's Circular No.278 (F.No.275/12/80/IT(B)) dated the 26th August, 1980 [1980] 125 ITR (St.) 1 regarding deduction of income-tax from salaries during the financial year 1980-81. 2. You are aware that the exemption limit of taxable income has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 00 and payable to the credit of the Central Government during the subsequent months of the current financial year. Such adjustments will be made in the following manner. 4. The "person responsible for paying" the salaries should, in the first instance, determine the amount of tax deducted and paid to the credit of the Central Government in the earlier months on account of the employees whose est ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... doubt. Even where any person responsible for paying the salaries has been exempted by the Commissioner of Income-tax, under rule 34 of the Income-tax Rules, 1962, from the requirement of furnishing monthly return in Form No.21, he should submit, in respect of the employees whose income from salary is likely to be below Rs.12,000, the monthly returns separately for each month only up to and along ..... X X X X Extracts X X X X X X X X Extracts X X X X
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