Tuesday, October 7, 2008

Tax Deduction on 40 percent of arrear only.

CBDT has clarified in the Press release issued on 30th September, 2008 that that TDS would be deducted u/s 192 only from the arrears of salary actually paid during FY 2008-09. On the balance, tax would be deducted during the financial year in which these pay arrears are actually paid.






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