Transcription of TDS ON SALARIES - Income Tax Department
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TDS ON SALARIES - Income Tax Department
Income TAX DEPARTMENTD irectorate of Income Tax (PR, PP & OL)6th Floor, Mayur Bhawan, connaught CircusNew Delhi-110001 TDSONSALARIESTax Payers Information series - 35 PREFACEThe provisions of the Income Tax Act, 1961 relating to TaxDeduction at Source from SALARIES are of immense importance inthe context of present scenario when TDS collections account foralmost 39% of total collection of Direct Income Tax Act, 1961 provides for penalties for defaultsin respect of deduction of tax at source and deposit thereof intoCentral Government account. The law is even more strict in casethe tax has been deducted at source but not deposited into the CentralGovernment account in the prescribed manner. In such a case,besides penalties, the law provides even for prosecution.
INCOME TAX DEPARTMENT Directorate of Income Tax (PR, PP & OL) 6th Floor, Mayur Bhawan, Connaught Circus New Delhi-110001 TDS ON SALARIES Tax Payers Information Series - 35
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