Income Tax - Salaries - CBDT Issues TDS Circular
IT is customary for the CBDT to issue a circular on deductions, computation, TDS etc. on salaries, every year. The Circular for the Financial Year was supposed to have been issued on 13th December 2010, but for love, money or taxes, the circular was not available anywhere, till yesterday.
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 2010-11 and explains certain related provisions of the Income-tax Act.
CBDT CIRCULAR NO. 8/2010 [F.No. 275/192/2009-IT(B)], Dated: December 13, 2010