Section 45 - Amendment of section 192 - Finance Act, 1987

45. Amendment of section 192 In section 192 of the Income-tax Act, with effect from the 1st day of June, 1987, - (a) after sub-section (1), the following sub-sections shall be inserted, namely :- (2) Where, during the financial year, an assessee is employed simultaneously under more than one employer, or where he has held successively employment under more than one employer, he may furnish to the person responsible for making the payment referred to in sub-section (1) (being one of the said employers as the assessee may, having regard to the circumstances of his case, choose), such details of the income under the head Salaries due or received by him from the other employer or employers, the tax deducted at source therefrom and such other particulars, in such form and verified in such manner as may be prescribed, and thereupon the person responsible for making the payment referred to above shall take into account the details so furnished for the purposes of making the deduction under sub-section (1). (2A) Where the assessee, being a government servant or an employee in a public sector undertaking, is entitled to the relief under sub-section (1) of section 89, he may furnish to the person responsible for making the payment referred to in sub-section (1), such particulars, in such form and verified in such manner as may be prescribed, and thereupon the person responsible as aforesaid shall compute the relief on the basis of such particulars and take it into account in making the deduction under sub-section (1). (2B) Where an assessee who receives any income chargeable under the head Salaries has, in addition, any income chargeable under any other head of income (not being a loss under any such head) for the same financial year, he may send to the person responsible for making the payment referred to in sub-section (1) the particulars of such other income and of any tax deducted thereon under any other provision of this Chapter, in such form and verified in such manner as may be prescribed, and thereupon the person responsible as aforesaid shall take such other income and the tax, if any, deducted thereon also into account for the purposes of making the deduction under sub-section (1) : Provided that this sub-section shall not in any case have the effect of reducing the tax deductible from the income under the head Salaries below the amount that would be so deductible if the other income and the tax deducted thereon had not been taken into account. ; (b) in sub-section (3), after the words, brackets and figure in sub-section (1) , the words, brackets, figures and letters or sub-section (2) or sub-section (2A) or sub-section (2B) shall be inserted.