Amendment in Section 192 of the Income Tax Act, 1961
Section 192 of Income-Tax Act, 1961 deals with the Tax deducted at source from salary. TDS deducted from the salary will be ultimately reflected in your Form 16.
Recently the government gave it a final nod to the proposed amendment under section 192 of Income-Tax Act, 1961 pertaining to TDS deduction from salary
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No TDS will be deducted from salary unless the estimated Income from salary including the value of perquisites for the Financial year 2019-20 does not exceed (INR 2,50,000) (INR 3,00,000) (INR 5,00,000) as the case may be, depending upon the age of the employee.
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