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TMI BlogDeduction of tax at source-Income-tax deduction from salaries during the financial year 1984-85 under section 192 of the Income-tax Act, 1961-RegardingX X X X Extracts X X X X X X X X Extracts X X X X ..... Sh. B. Nagarajan, Secretary, Central Board of Direct Taxes. To All State Governments (including Administration of Union Territories). Subject: Deduction of tax at source-Income-tax deduction from salaries during the financial year 1984-85 under section 192 of the Income-tax Act, 1961-Regarding. Sir, I am directed to invite a reference to this Ministry's Circular No. 388 [F. No. 275/13/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... accommodation occupied by the assessee is owned by him; or (b) the assessee has not actually incurred expenditure on payment of rent (by whatever name called) in respect of the residential accommodation occupied by him." In view of the retrospective insertion of this Explanation with effect from the 1st day of April, 1976, the exemption in respect of such house rent allowance has become inadmis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d any loan to the employee for the purpose of building a house or purchasing a site or a house and a site or for purchasing a motor car, and either no interest is charged by the employer on the amount of such loan or interest is charged at a rate lower than the rate of interest which the Central Government may, having regard to the rate of interest charged by it from its employees on loans for suc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ead 'Salaries', exclusive of the value of all benefits or amenities not provided for by way of monetary payment, does not exceed eighteen thousand rupees." This may be added as a sub-para. to item No. (ii) of para. 4 of the Board's circular No. 388 (F. No. 275/13/84-IT(B) dated July 16, 1984 ([1984] 148 ITR (St.) 15). 5. These instructions may please be brought to the notice of all drawing and d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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