Income Tax 2013-14 for Salaried Employees – Circular 08/2013 dated 10.10.2013

Income Tax 2013-14 for Salaried Employees (Assessment Year 2014-15) – Income Tax Department Circular 08/2013 dated 10.10.2013

CIRCULAR  NO : 08 /2013

F.No. 275/192/2013-IT(B) Government of India Ministry of Finance Department of Revenue

Central Board of Direct Taxes

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New Delhi, dated the 10th October, 2013

SUBJECT:    INCOME-TAX    DEDUCTION    FROM    SALARIES    DURING    THE FINANCIAL  YEAR  2013-14  UNDER  SECTION  192  OF  THE  INCOME-TAX  ACT, 1961

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Reference  is    invited    to  Circular  No.08/2012  dated    05.10.2012    whereby    the  rates  of deduction   of   income-tax   from   the payment of income under the head “Salaries” under Section  192  of  the  Income-tax Act, 1961(hereinafter ‘the Act’), during the financial  year 2012-2013, were intimated. 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 2013-2014 and explains certain   related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules). The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department-  www.incometaxindia.gov.in.

Following links would provide important topics covered in Income Tax Circular No. 08/2013 dated 10.10.2013 meant for Salaried Employees

RATES OF INCOME TAX FOR THE YEAR 2013-14 (ASSESSMENT YEAR 2014-15)

METHOD OF INCOME TAX CALCULATION FOR THE YEAR 2013-14 – SECTION 192 OF THE INCOME TAX ACT 1961

INCOME FROM HOUSE PROPERTY – EXEMPTION FOR INTEREST PAID ON HOUSING LOAN

COMPUTATION OF INCOME UNDER THE HEAD SALARIES AND CALCULATION OF INCOME TAX FOR THE YEAR 2013-14