New provisions to make dent into salary income

Jan 14 2014, 09:20 IST
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SummaryLike every year, the Central Board of Direct Taxes (CBDT) updated its annual circular relating to withholding taxes from salary payments.

consecutive financial year beginning with the financial year in which the listed equity shares or units were first acquired. Employers should carefully read through the circular to understand the changes brought into the tax law relating to withholding of tax on salary payment made to their employees to ensure that they are compliant with regard to taxes and mitigate any interest and/or penal consequences that could occur as a result of any default.

* The writer is senior tax professional, EY. Views expressed are personal

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