circular no. 3/2025 income tax deduction from salaries during the financial year 2024 25 under section 192 of the income tax act 1961

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F. No. 275/107/2024-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct 'f axes ****** CIRCULAR NO : 3/2025 North Block, New Delhi Dated the 20th Fcbruary, 2025 SUBJECT: INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAn 2024-25 UNJ)ER SECTION 192 OF THE INCOME-TAX ACT, 1961. ***** Reference is invited to Circular No. 24/2022 dated 07.12.2022, whereby the rates of deduction of income-tax from the payment of income under the head "Salarics" under section 192 of the Income-tax Act, 1961 (hereinalier referred to as ' the Act '), during the financial year 2022-23, were intimated. The said Circular also explained certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter referred to as 'the Rules'). The present Circular contains the amendments made vide the Finance (No.2) Act of 2024, Finance (No. 1) Act of 2024 and Finance Act of 2023 in respect of rates of deduction of income-tax from the payment of income under the head "Salaries" under section 192 of the Act. Where no amendments have been made by the above refcrrcd Acts, in such cases, the above referred Circular No. 24 of 2022 shall continue to be applicable for F.Y. 2024-25. The relevant Acts, Rules, Forms and NotiJlcations are availablc at thc website of the Income Tax Department- www.incomelaxindia.gov.in. Amendments made vide the Finance (No.2) Aet of 2024, Finance ( o. 1) Act of 2024 and Finance Act of 2023 in respect of rates of deduction of income-tax from the puyment of income under the head "Salaries" under section 192 of the Income- tax Aet,1961, during the financial year 2024-25 I. The term "Salary" has been defined in section 15 of the Act. It has been further explained in section 17. As per the amendment in section 17(1) of the Act vide the Finance Act, 2023, "salary", infer alia, includes the fo llowing: ix) the contribution made by the Central Government in the previous year. to the Agniveer Corpus Fund account of an individual enrolled in the Agnipath Scheme referred to in section 80CCJJ; ... " 2. As per the amendment vide the Finance Act, 2023 111 section 17(2) or the Act, " perquisite", inter alia, includes the following: " (i) The value (j[rent-jree accommodation provided to the employee by his employer [computed in such manner as may be prescribed); (ii) The value of any accommodation provided to the assessee by his employer at a concessionai rate .... " 3. As per the amendment vide Finance (No.2) Act, 2024, the provisions related to Surcharge (under Old Tax Regime) applicable in the case or every individual arc as undcr: Surcharge Rate on S.No. Total Income the amount of income tax under old tax regime (a) More than Rs 50 lakhs S Rs I Crore (including thc income by way or dividend or income under sections III A or 11 2 or 10% 11 2A) (b) More than Rs I Crore S Rs 2 Crore (including the income by way of dividend or income under sections IliA or 11 2 or 15% 11 2A) (c) More than Rs 2 Crore S Rs 5 Crore (excluding the income by way of dividend or income under sections I I I A or I 12 or 25% 11 2A) 2 (d) More than Rs 5 Crore (excluding the income by way of 37% dividcnd or income under sections I II A or 11 2 or 1121'1) (e) More than Rs 2 Crore (including the income by way of dividend or income under sections 111/\ or 11 2 or 1121'1), not 15% covcrcd under (c) and (d) above 4. As per the amcndmcnt vide Finance (No.2) Act, 2024 in respect of section IJ SDAC, the rates of income tax (under New Tax Regime) for the FY 2024-25 (i.e. Assessment Y car 2025-26) are as undcr: Sl. No. Total Income Rate of tax I. Up to Rs. 3,00,000 Nil 2. From Rs. 3,00,00 I to Rs. 7,00,000 5 pcr ccnt , From Rs. 7,00,00 I to Rs. 10,00,000 10 per cent J . 4. From Rs. 10,00,00 I to Rs. 12,00,000 15 per cent 5. From Rs. 12,00,00 I to Rs. 15,00,000 20 per cent 6. Above Rs. 15,00,000 30 percent Further, for the purposes of sub-section (l A) of section l1S8AC, the total income of the person shall be computcd- (i) without any exemption or deduction under the provisions of clause (5) or clause (13A) or prescribed under clause (l4}{other than those as may be prescribed Jor this purpose) or clause (17) or clause (32), a/section 10 or section 10AA or clause (ii) or clause (iii) oJsection 16 or clause (b) o/section 24 [in respect oj the property referred /0 in sub-section (2) oJsection 237 or clause (iia) of sub-section (I) a/section 32 or section 32AD or section 33AB or section 33ABA or sub-clause (ii) or sub-clause (iia) or sub-clause (iii) 0/ sub-section (J) or sub-section (2AA) oj section 35 or section 35AD or sec/ion 35CCC or under any o/the provisions 0/ Chapter VI-A other than the provisions of sub-section (2) of section 80CCD or sub-sec/ion (2) of section 80CCIi or section 80JJAA. (ii) without sct off of any loss,- (a) carried forward or depreciation from any earlier assessment ycar, if such loss or depreciation is attributable to any of the deductions referred to in clause (i); (b) under the head "Income from house properly" with any other head of incomc; (iii) by claiming the depreciation, if any, under any provision or section 32, except clause (iia) of sub-section (I) of the said section, determined in such maImer as may be prescribed; 3 and (iv) without any exemption or deduction for allowances or perquisite, by whatever name called, provided under any other law for the time being in torce. 5. As per the amendment made vide Finance (No.2) Act, 2024, section 192(2U) IS reproduced as under: " ....... (2B) Where an assessee who receives any income chargeable under Ihe head "Salaries" has, in addilion, - (i) any income chargeable under any other head of income (not being a loss under any such head other than the loss under the head "Income ji-om house property"); or (ii) allY tax deductell or collected under the provisiolls of Part B or Port BB of this Chapter, as the case may he, for the same jinancial year, he I/"Iay send to the person responsible jar making the paymenr referred to in sub-section (I), the particulars oj~ (a) such other income; (b) lilly tliX dedllcted or collected ullder allY other provisioll of Plirt B or Plirt BB of tllis Chllpter, liS the case may be; ami (c) the loss, if any. under the head "Income ji-om house property ", in such form and verified in such manner as may be prescribed, and thereupon the person responsible as ciforesaid shall take inro account the particulars referred to in clauses (a), (b) and (c) for the purposes of making the deduction under sub-section (I): Provided that this sub-section shall not in any case have Ihe ejject of reducing the tax deductible ji-om income under the head "Salaries", except where the loss under the head "Income ji-om house property" and the lax deducted in accordance with other provisions of Part Band tox collected in accordance with the provisions of Part BB. of this Chapter, has been taken inlo account. J 6. The Form No. 16 has been amended vide tho Income-tax (Fifth Amendment) Rules, 2023, w.o.f. 1-7-2023 and shall be applicable for the assessment year 2024-25 and subsequent assessment years. Form No. 16 (has been further modified vide the Income-lax (Eighth Amdl.) Rules, 2024, w.c.f. 15- 10-2024. The modified Form No. 16 is placed at Annexure-A. 7. The amendments in Form No. 24Q made by the Income-tax (Fi fill Amendment) Rules, 2023 are as under: (i) In Almexure-[ : Deduetee wise Break up of TDS, "Health and Educalion Cess" has been substituted for "Education Cess". (ii) Annexure-II : Details of salmy paid or credited during the jinancial 4 year ...... ... and nel lax payable (under seclion 192) has been substituted by the Income-tax (Fifth Amendment) Rules, 2023, w.e.f. 01.07.2023. Further, the amendment in Form No. 24Q made by the Income-tax (Eighth Amendment) Rules, 2024 w.e.f. 15.10.2024 is as under: (i) In Annexure-II, column No. 388A- 'Amollnl reporled as per seclion 192(28), of olher lax deducled 01 source or lax collecled 0 1 source, olher Ihan (388) ' has been inserted. 8. As per the amendment vide Income-tax (Eighteenth Amendmcnt) Rules, 2023 w.e.f. 0 1.09.2023 in the Rule 3 of the Rules, in rcspeet of the accommodation provided by any other employer, the rates prescribed for valuation of perquisites are as under: S.No. Circlims/flllces Where accollllllotlafioll is Where accoml1l(}(/alioll is/urJlisheti IIl1furli i,\'/ietl (2) Where the accommodation is provided by any olher ell/player alld- (a) where Ihe (i) 10% a/salary ill cilies 71w value of perquisile as delermined accollllllodal iOIl having population exceedi11g under colulIln (3) and increased by 10% is owned by Ihe 40 lakhs as pel' 2011 census; per annum of/he cos/ offlimillire employer, or (ii) 7. 5% of salmy in cilies (illciuding ,elevision sels, radio sels, refrigeralars. other household having populalion exceeding applianceJ', air-conditioning plaia or 15 lakhs but 1101 exceeding 40 equipment or olher similar appliances or lakhs as per 2011 celis US; gadge/l) or if silch fumillire is hired ji'om (iii) 5% of salmy in olher a Ihird parly, by Ihe aCllIal hire charf,(e.l' areas, in respecl oflhe period payable for Ihe same as reduced by allY during IVhich Ihe said charges paid or payable for Ihe same by accomlliodatioll was Ihe employee during Ihe previolls year. occupied by Ihe employee during the previous year as reduced by Ihe relll, if ally, aCllla/~y paid by Ihe employee. (b) where Ihe Actual amount of lease rental The value of perquisite as determined accollll1lodat ion paid or payable by Ihe ullder coilimn (3) and increased by 10% is taken on lease ell/p/oyer or /0% o/salmy. per annum of the cosl of f urlliture or relit by the whichever is lower, as (including television sel.\', radio sels. employer. reduced by Ihe relll, if any, reji'igeralors, olher house/wid aClually paid by Ihe oppliances, air-collditioning plalll or employee. equipmelll or olher similar appliances or gadgell) or ifsuchjill'lIilllre is hiredji'om a Ihird parly, by Ihe aclllal hire charges payable for Ihe same as reduced by allY charges paid or payable for Ihe same by Ihe employee durillg Ihe PI' 5 9. The definition of "remote area" given in Explanation (v) to Rule 3 of the Rules has been amended vide Income-tax (Eighteenth Amendment) Rules, 2023 w.e.f. 01 .09.2023 as under: " .. (v) "remote area", for purposes o/proviso 10 sub-rule (I) means any area other than an area which is located- (a) within the lncallimits of,' or (b) within a distance, measured aerially, of 30 kilometers ji-om the local limits of, any municipality or a cantonment hoard having a population of 1,00,000 or more based on the 20 /1 census ... " 10. As per clause (iii) of sub-rulc (7) of Rule 3, the value of free food and non- alcoholic beverages provided by thc employer to the employee shall bc thc amount of expenditure incurred by such employer. As per the amendment vide Income-tax (Tenth Amendment) Rulcs, 2023, w.e.f. 2 1.0G.2023, the second proviso to clause (iii) of sub-rule (7) of Rule 3 reads as under- "Provided jurther that the provisions of the first proviso in respect of ji-ee food and non-alcoholic beverage provided by the employer through paid voucher shall not apply to an employee, being an assessee, who has exercised an option under ,wb-section (5) (If section 115BAC or whose income is chargeable to tax under sub-section (1 A) of section 115BAC " II . The exemption limit of leave encashmcnt, in the case of employees other than Government employees, has been enhanced to Rs 25,00,000/- vide C130T Notification No, 3 1/2023 datcd 24,05,2023, Accordingly, the exemption in respect of leave eneashmcnt in case of a non-Govenunent employee at the time of retirement shall be lower of the following amounts: • Period of earned leave standing to the credit in the employee's account at the time ofretircment x average monthly salary, • Average monthly salary x 10 (i,e., 10 months' average salary), • Maximum amount as specified by the Central Government, i.e., Rs. 25,00,000. • Leave cncashment actually received at the time of retirement. If an employee receives leave salary from morc than one employer in the same year, then the 6 maximum amount of exemption under section 10(1 OAA)(ii) of the Act ealIDot exceed the amount specilled by the Central Governmelll (i.e., Rs. 25,00,000). Where any employee has claimed exemption of leave salary under this section in any earlier year(s), then in case of such employee, the ceiling limit (i.e., Rs. 25,00,000) shall be reduced by the amount of exemption earlier claimed. 12. The sub-section (12C) has been inserted in section 10 of the Act vide Finance Act, 2023 . UncleI' section 1 0(12e) of the Aet, any payment from the Agniveer Corpus Fund to a person enrolled under the Agnipath Scheme, or to his nominee shall be exempt. Section I 0(l2C) of the Act is reproduced as under: "(l2C) any payment ./i·om the Agniveer Corpus Fund to a person enrolled under Ihe Agnipcllh Scheme. or 10 his nominee. Explanation.- For the purposes 0/ Ihis clause "Agniveer Corpus Fund" and "Agnipath Scheme" shall have the meanings respectively assigned to them in seclion 80CCII; " 13. Section 87 A provides relief in the form of rebate to individual taxpayers, resident in India, who are in lower income bracket, i.e. having total income not exceeding Rs 5,00,000/-. The amount of rebate available under section 87 A is Rs 12,500/- or the amount of tax payable, whichever is less. As per the amendment vide Finance Act, 2023, w.e.f. 01.04.2024, the proviso to section 87 A has been inserted and the same is reproduced as under: " ...... Provided Ihal where Ihe 10101 income 0/ the assessee is chargeable 10 lax under sub-seclion (fA) 0/sectionI15BAC, and Ihe 10101 income- (a) does nol exceed seven hundred IhousCind rupees, Ihe assessee shall be enlilled 10 a deduction from Ihe amounl 0/ income-tax (as compUled be/ore allowing /01' Ihe deductions under Ihis Chaplel) on his lotal income with which he is chargeable lor any assessmenl year, of an amounl equal 10 one hundred per cenl 0/ such income-tax or an amount o/rwenryc/ive Ihousand rupees. whichever is less; (b) exceeds seven hundred thousand rupees and Ihe income-lax payable on such lotal income exceeds Ihe amounl by which Ihe 10101 income is in excess 0/ seven hundred thousand rupees, the assessee shall be enlilled 10 a deduclion from Ihe amounl 0/ income-lax (as compuled before allowing the deduclions under Ihis Chaptel) on his lotal income, of an amounl equal /0 the CI!/'lOunl by which Ihe income-lax payable on such 10101 income is in excess o/Ihe amounl by which Ihe 10101 income exceeds seven 7 hundred thousand rupees. 14. Section 80CCH of the Act related to ' Dcduction in respcct of contribution to Agnipatb Scbeme' has been inserted vide Finance Act, 2023 . Accordingly after paragraph No. II of para 5.5.3 the fo llowing paragraph No. 12 is inserted and the same is to be read as under: "80CCII. (I) Where an assessee, being an individual enrolled in the Agnipath Scheme and subscribing to the Agniveer Corpus Fund on or after Ihe isl day of November, 2022, has in the previous year paid or deposiled any amount in his account In the said Fimd, he shull be ut/uwed u deductiurt irt lite compulalion o.lhis lotal income, o.llhe whole ollhe amnunl w) paid or depnsiled. (2) Where the Central Governmel1l makes any conlribulion 10 the accoul1l of an assessee in Ihe Agniveer Corpus Fund referred 10 in sub-section (I). Ihe assessee shall be allowed a deduction in Ihe compulation a/his 10101 income o/Ihe whole o.flhe amount so contribuled. Explanalion.- For Ihe purposes of this section,-- (a) "Agnipalh Scheme" means Ihe scheme for enrolmel1l in Indian Armed Forces inlrodLiced vide leller No. I (23)2022/D(Pay/Services), daled Ihe 29117 December. 2022 a/the Government a/India in Ihe Minis/ly of Defence: (b) "Agniveer Corpus Fund" means afimd in which consolidated contributions of all Ihe Agniveers and malching conlributions o/Ihe Cenlral Government along wilh inleresl on bOlh Ihese conlribulions are held. " 15. Amcndmcnts in Pcnalty and I>rosccution provisions on default on account of TDS- (i) As per the Finance Act, 2023, section 271C on ' Penalty ror (" ilure to deduct tax at source' has been amended. Section 27 1 C, inler alia, lays down that if any person fa ils to deduct whole or any part of tax at source or fails to payor ensure payment of; tbe whole or any part of tllX under the proviso to section 1948 (w.e.f. 01.04.2023), sub-section (2) of section 1948A (w.c.f. 0 1.07.2023), he/she shall bc liable to pay, by way of penalty, a sum equal to the amollnt of tax not deducted or paid or payment ensured by him. (ii) As per the Finance I\ct, 2023, section 2761l on 'Failure to pay tax to the credit of Ccntral Government under Chapter XII-O or XVII-B' has bccn amcnded. Section 276B lays down that if a person fails to pay to the credit of the Central Government within the prcscribed time, as above, the tax deducted at source by him or tax payablc 8 by him or cnsure payment of tax under the proviso to Section 1940 (w.e.f. 01.04.2023), or section 194BA(2) (w.e.r. 01.07.2023), he/she shall be punishable with rigorous imprisonment for a term whieh shall not be less than three months but which may extend to seven years and with fi ne." (iii) Further, the following proviso has been inserted in section 276B of the Act vide Finance (No.2) Act, 2024: "Provil/ed Ihal the provisions ol lhis section shall nol apply if Ihe paymenl relerred 10 in clause (a) has been made to the credit ollhe Central Government al any lime on or belore Ihe lime prescribed jor .filing Ihe slalemenl lor such paymenl under sub-section (3) 01 section 200. " 16. Miscellaneous 16. 1 These instructions are not exhaustive and are issued only with a view to guide the employers. Wherever there is any doubt, reference may be made to the provisions of the Income-tax Act, 196 1, the Income-tax Rules, 1962, the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2022 (No. 38 of 2022), the above mentioned Finance Acts, the relevant circulars / notifications, etc. 16.2 It is stated that in ease any assistance is required, the Assessing Orricer/the Local Public Relation Officcr of thc Income-tax Department may be contacted. 16.3 These instructions may be brought to the notice of all Disbursing Officers and Undertaki ngs including those under the control of the Central/ State Governments. 16.4 Copies of this Circular are available at the fo llowing websites: www.finmin.nic.in & www.incometaxindia.gov.in Hindi version will follow. Cory to: I. All State Governments/Union Territories. 2. All Ministries/Departments of Government of India etc. 3. President's Secretariat 4. Vice-Presidcnt's Secretariat 5. Primc Minister's Office 6. Lok Sabha Secretariat 7. Rajya Sabha Secretariat 9 ~ (nubal Singh) Oeputy Secretary (IT-Budget), CBOT 8. Cabinet Secretariat 9. Secretary, U.P.S.C., Dholpur House, New Delhi 10. Secretary, Staff Selection Commission, Lodhi Complex, New Delhi I I . Supreme COlllt of I ndia, New Delhi 12. Election Commission, New Delhi Planning Commission, New Delhi 13. Secretariat of Governor siLt. Governors of all States/Union Territories 14. All Integrated f inancial Advisors to Ministries/Departments of Government of India I S. All heads of Departments & Offices subordinate to the Department of Revenue CnDT, CBEC 16. Army headquarters, New Delhi 17. Air headquarters, New Delhi Naval headquarters, New Delhi 18. Director-General of Posts & Telegraphs, New Delhi 19. Comptroller & Auditor General of India 20. Accountant Generals of all State Governments 21. Director of Audit (Central)Kolkata, Ncw Delhi, Mumbai. 22. All Banks (Public Sector, Nationalized including State Bank of India) 23. Secretary, Reserve Bank of India Central Office P.B.No.406, MlIITIbai 40000 I (25 copies for distri bution to its Branches). 24. Accounts Officer, Inspector General of Assam Rifles, (Hqrs), Shillong All Chambers of Commerce & Industry 25. Lok Sabha /Rajya Sabha Secretariat Libraries (15 copies each) 26. All Officers and Sections in Technical Wing of CnDT 27. Asstt . Chief Inspector, RBI Inspection Deptt. Regional Cell Mumbai/Kolkatai Chennai/New Del hi/and Kanpur. 28. Controller of Accounts, Deptt. Of Economic Affairs, New Delhi 29. Manager, Reserve Bank of India, Public Debt Office, Ahmedabadl13engalurul Bhllbaneswarl Mumbai/KolkatalHyderabad/Kanpllr/JaipurlChennailNagpurlNew Delhil Patnal GuwahatilTrivandrum. 30. Controller General of Defence Accounts, New Delhi. 3 1. Directorate of Audit, Defence Services, New Delhi. National Saving Organisation, Nagpur. 32. Deputy Accountant General, Post & Telegraph, Kolkata. 33. The Legal Adviser, Export-Import Bank of India, P.B.No. I 9969, Mumbai 400002 1. Chief Controller of Accounts, CBDT, Lok Nayak Bhawan, Khan Market, New Delhi 34. N. S. Branch, Department of Economic Affairs, New Delhi 35. The Min. of Law (Deptt. of Legal Affai rs), Shastri Bhawan New Delhi. All foreign Banks operating in India 36. Air India, New Delhi. 37. University Grants Commission, Bahadur Shah Jafar Marg, New Delhi. ~ Deputy Secretary (IT-Budget), cBln 10 FORM NO.16 [See Rule 31(1)(a)) PART A Anncxurc-A Certificate under section 203 of the Income-tax Act, 1961 for Tax deducted at source on Salary paid to an employee d . 192 . r . f fi . P un er section orJ?enslon Interest Income 0 speci led senior citIzen under section 194 Certificate No. Last updated on Name and address of the Employer /Specified Bank Name and address of the Employee /Specified senior citizen PAN of the Employee Reference No.1 Employee/Specified senior Pension Payment order no. provided by the Employer (If PAN of the Deductor Tan of the Deductor citizen available) CIT(TDS) Assessment year Period with the Employer Address : From To City: Pin code: Summary of amount paid/credited and tax deducted at source thereon in respect of the employee Quarter(s) Total (Rs.) Receipt Numbers of original quarterly statements of TDS under sub-section (3) of section 200 Amount paid/credited Amount of tax deducted (Rs.) Amount of tax deposited/remitted (Rs.) I. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH BOOK ADJUSTMENT (The deductor to provide payment wise details of tax deducted and deposited with respect to the deductee) Tax Deposited in Book Identification Number (BIN) 51. No respect of the Receipt numbers of Form DOD serial number Date of transfer Status of matching deductee (Rs.) No.24G in Form No.24G vQucher(dd/mm/yyy with Form No. 24G y) Total (Rs.) II. DETAILS OF TAX DEDUCTED AND DEPOSITED IN THE CENTRAL GOVERNMENT ACCOUNT THROUGH CHALLAN (The deductor to provide payment wise details of tax deducted and deposited with respect to the deductee) Challan Identification Number (CIN) 51. No Tax Deposited in respect Date on which tax Status of of the deductee (Rs., BSR Code of the deposited Challan Serial matching with Bank Branch (dd/mm/yyyy) Number DLTAS Total (Rs.) II Verification I, ... ................ ................ , son/daughter of ....................... working in the capacity of ........... .. ( designation) do hereby certify that a sum of Rs ...... ....... [Rs .................. (in words)] has been deducted and deposited to the credit of the Central Government. I further certify that the information given above is true, complete and correct and is based on the books of account, documents, TDS statements, TDS deposited and other available records Place ................ .. Date ........ .......... ........ .......... . (Signature of person responsible for deduction of tax) Designation: Full Name: ...... ............... ............ .. ....... ....... .. 12 A. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. n re atlon to employees or ax e uc Ion un er sec Ion I . PART B (Annexure-I) f t d d f d f 192 Details of Salary Paid and any other income and tax deducted Whelher opting for taxation uls 115BAG (IA)? Gross Salary a) Salary as per provisions contained in sec.17(1) Rs .... b) Value of perquisites under section 17(2)(as per Form No 12BA, Rs. wherever applicable} c) Profits in lieu of salary under section 17(3) (as per Form No. 12BA, Rs. wherever applicable) d} Total e) Reported total amount of salary received from other employer(s) Less: Allowances to the extent exempt under section 10 a} Travel concession or assistance under section 10(5) Rs. b} Death-cum-retirement qratuitv under section 10(1 O} Rs . ... c) Commuted value of pension under section 10(1 OA) Rs .... d) Cash equivalent of leave salary encashment under section Rs . . 10(10AA) e) House rent allowance under section 10(13A) f} Other special allowances under section 10(14} 0) Amount of any other ex emotion under section 10 clause ... Rs .. clause .. . Rs. clause ... Rs . ... clause ... Rs . ... clause ... Rs . ... ... Rs . ... h) Total amount of anv other exemption under section 10 i) Total amount of exemption claimed under section 10 (2(a)+ 2(b}+ 2( c}+ 2( d)+ 2( e)+ 2( h) I Total amount of salary received from current em plover [1 (d}-20ll Less: Deductions under section 16 a) Standard deduction under section 16(ia) Rs .... b} Entertainment allowance under section 16(ii) Rs . ... c) Tax on employment under section 16@) Rs .... Total amount of deductions under section 16 [4(a)+4(b)+4(c)] Income chargeable under the head ·Salaries· ( 3+1(e}-51 Add: Any other income reported by the employee under as per section Rs .... 192 2B) a) Income (or admissible loss) from house property reported by Rs. employee offered for TDS b} Income under the head Other Sources offered for TDS Total amount of other income reported by the employee [7(a)+7(b}[ Gross total income (6+8) Deductions under chapter VI-A Gross Amount a} Deduction in respect of life insurance premia, contributions to Rs . ... provident fund etc. under section BOC Totat b) Deduction in respect of contribution to certain pension funds Rs. under section 80CCC c) Deduction in respect of contribution by taxpayer to pension Rs. scheme under section 80CCD (1) ... d) Total deduction under section BOC BOCCC and 80CCD(1} Rs . ... 13 [YESINO Rs. Rs .... Rs . ... Rs. . .. Rs. . .. Deductible Amount Rs .... Rs. Rs. Rs .... e) Deductions in respect of amount paid/deposited to notified Rs . ... Rs . ... pension scheme under section BOCCD (1 B) '-' f) Deduction in respect of contribution by Employer to pension Rs. Rs .... scheme under section BOCCD (2) ... g) Deduction in respect of health insurance premia under section Rs . ... Rs . ... BOD h) Deduction in respect of interest on loan taken for higher Rs . ... Rs .... education under section aDE i) Deduction in respect of contribution by the employee to Rs. Rs .... Agnipath Scheme under section BOCCH ... j) Deduction in respect of contribution by the Central Rs . ... Rs .... Government to AQnipath Scheme under section BOCCH Gross Qualifying Deductible Amount Amount Amount k) Total Deduction in respect of donations to certain funds , charitable institutions. etc. under section BOG Rs .... Rs .... Rs .... I) Deduction in respect of interest on depOSits in savings account Rs .... Rs . ... Rs .... under section BOTTA m) Amount deductible under any other provision(s) of Chapter VI-A Section ... Rs .... Rs. ... Rs. ... Seclion .. . Rs .... Rs. Rs .... Section .. Rs .... Rs. ... Rs .... Section .. . Rs .... Rs. ... Rs . ... Section ... Rs . ... Rs . ... Rs .... Section ... Rs .... Rs .... Rs .... Section .. . Rs . ... Rs .... Rs .... Rs .... Rs . ... Rs .... n) Total of amount deductible under any other provision(s) of Rs. Rs .... Rs. Chapter VI-A ... 11 . Aggregate of deductible amount under Chapter VI-A [10(d)+10(e)+10(f)+10(g)+10(h)+ 10(i)+10(j) +10(k) +10(1) +10(n)] Rs. ... 12. Total taxable income (9-11) Rs . ... 13. Tax on total income Rs . ... 14. Rebate under section B7 A if applicable Rs .... 15. Surcharge wherever applicable Rs .... 16. Health and education cess @l 4% Rs . ... 17. Tax g§,yable (13+15+ 16-14) Rs . ... 1B. Less: Relief under section 89(attach details) Rs .... 19. Less: Tax deducted at source as per Form No. 12BM submitted under Rs . ... provisions of section 192(2B) 20. Less: Tax collected at source as per Form No. 12BM submitted under Rs .... provisions of section 192(2B) 21. Net tax payable (17-18-19-20) Rs . ... Verification .,-_..,,-_.,-_. son/daughter of working in the capacity of (designation) do hereby certify that the information given above is true, complete and correct and is based on the books of account, documents, TOS statements, and other available records. Place Date (Signature of person responsible for deduction of tax) Full Name : 14 PART B (Annexure-II) In relation to specified senior citizen for tax deduction under section 194P A. Whether opting for taxation uls 115BAC(lA)? [YES/NO] 1. Gross Salarv a) I Pension as per prm'isions contained in clause (ii) of section 17( 1) Rs .... 2. Total amount of salary received Rs. 3. Less: Deductions under section 16 a) I Standard deduction under section 16(ia) Rs .... b) I Tax 011 emplovment undcrscction 16(iii) Rs .... 4. Total amount of deductions under section 16 13(a)+3(b)1 Rs .. 5. Income charQeable under the head "Salaries" [(2-41 Rs. ~ Interest Income under the head Other Sources paid by the specified bank Rs .... 7. Gross total income (5+6) Rs .... B. Deductions under chapter VI-A Gross Deductible Amount Amount a) Deduction in respect of life insurance premia, contributions to Rs .... Rs .... provident fund etc. under section BOC b) Deduction in respect of contribution to certain pension funds Rs .. Rs. under section BOCCC c) Deduction in respect of contribution by taxpayer to pension Rs .... Rs .. scheme under section BOCCD (1) d) Total deduction under section BOC, BOCCC and BOCCD(l) Rs .... Rs .... e) Deductions in respect of amount paid/deposited to notified Rs .... Rs .... pension scheme under section BOCCD (1 B) f) Deduction in respect of health insurance premia under section Rs. Rs. BOD ... ... g) Deduction in respect of interest on loan taken for higher Rs. Rs. education under section BOE ... Gross Qualifying Deductible Amount Amount Amount h) Total Deduction in respect of donations to certain funds, Rs. Rs .... Rs. charitable institutions, etc. under section BOG ... . .. i) Deduction in respect of interest on deposits in savings account Rs. Rs. Rs. under section BOTTB ... j) Amount deductible under any other provision(s)of chapter VI-A section ... Rs. . .. Rs .... Rs .... section . Rs .... Rs .... Rs. ... section ... Rs. Rs .. Rs. ... section. Rs. Rs. Rs. ... section ... Rs . ... Rs. Rs. • section ... Rs. Rs .. Rs .... Rs . ... Rs. Rs .... k) Total of amount deductible under any other provision(s) of Rs. Rs. Rs .... Chapter VI-A ... 9. Aggregate of deductible amount under Chapter VI-A [B{d)+8(e)+B(O+B(o)+B(h)+B(i)+B(k)1 Rs .... 10. Total taxable income (7-9) Rs .... 11 . Tax on total income Rs . ... 12. Rebate under section B7A, if applicable Rs. ... 13. Surcharge, wherever applicable Rs . ... 14. Health and education cess Rs. 15. Tax payable (11+13+14-12) Rs . ... 16. Less: Relief under section B9(attach details) Rs . ... 17. Net tax payable (16-17) Rs . ... 15 Verification --:----",.--,:;-:-c;- ' Son/daughter of working in the capacity of (designation) do hereby certify that the information given above is true, complete and correct and is based on the books of account, documents, TDS statements, and other available records. Place Date Notes: (Signature of person responsible for deduction of tax) Full Name : 1. Government deductors to fill information in item I of Part A if tax is paid without production of an income-tax challan and in item II of Part A if tax is paid accompanied by an income-tax challan. 2. Non-Government deductors to fill information in item II of Part A. 3. The deductor shall furnish the address of the Commissioner of Income-tax (TDS) having jurisdiction as regards TDS statements of the assessee. 4. If an assessee is employed under one employer only during the year, certificate in Form No. 16 issued for the quarter ending on 31 st March of the financial year shall contain the details of tax deducted and deposited for all the quarters of the financial year. 5. (i) If an assessee is employed under more than one employer during the year, each of the employers sllall issue Part A of the certificate in Form No. 16 pertaining to the period for which such assessee was employed with each of the employers. (ii) Part B (Annexure-I) of the certificate in Form No.16 may be issued by each of the employers or the last employer at the option of the assessee. (iii) Part B (Annexure-II) of the certificate in Form 16 may be issued by the specified bank to a specified senior citizen. 6. In Part A, in items I and II, in the column for tax deposited in respect of deductee, furnish total amount of tax, surcharge and health and education cess. 7. Deductor shall duly fill details, where available, in item numbers 2(n and 10(k) before furnishing of Part B (Annexure-I) to the employee. 16