CORRIGENDUM - Income Tax Deduction from salaries during the F.Y. 2009-10 under section 192 of the Income Tax Act. - Income Tax - 1/2010

Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) New Delhi Dated 20th January, 2010 CORRIGENDUM Income Tax Deduction from salaries during the F.Y. 2009-10 under section 192 of the Income Tax Act. The undersigned is draw the attention on the Board's Circular No. 1/2010 dated 11th Jan, 2010 on the subject cited above. The following errata has been noticed which is rectified are as under:- (a) Circular No. mentioned in first page of the circular under General Category which is read as Circular No. 08/2007 dated 5.12.2007 may be read as Circular No. 09/2008 dated 29.09.2008. (b) Under Section 80DD, the amount specified for a severe disability which is read as an amount of seventy five thousand may be read as one hundred thousand where such dependant is a person with severe disability. (c) In Example-I, In the case of a male employee having Gross Salary Income of Rs. 5,00,000- The amount under the title of Tax thereon may be read as Rs. 44,000 in place of Rs. 41,000 and the amount calculated under the head Education Cess @ 2% Secondary and Higher Education Cess @ 1% may be read as Rs. 880 Rs. 440 in place of Rs. 820 410 respectively. Accordingly, the total tax payable may be read as Rs. 45,320 in place of Rs. 42,230. Similarly, In the case of a male employee having Gross Salary Income of Rs.10,00,000- The amount under the title of Tax thereon may be read as Rs 1,74,000 in place of Rs. 1,71,000 and the amount calculated under the head Education Cess@2% Secondary and Higher Education Cess @ 1% may be read as Rs. 3480 and Rs. 1740 in place of Rs. 3420 Rs. 1710 respectively. Accordingly, the total Income tax payable may be read as Rs. 1,79,220 in place of Rs. 1,76,310. (d) In Example - 5. The amount falls under Tax Payable Category may be read as Rs. 1,67,580 in place of Rs. 1,64,580 and the amount calculated under the head Education Cess@2% Secondary and Higher Education Cess @ 1% may be read as Rs. 3351.6 Rs. 1675.8 in place of Rs. 3291.6 Rs. 1645.8 respectively. Accordingly, the total Income tax payable may be read as Rs 1,72,607.4 in place of Rs. 1,69,517.4, rounded off to Rs. 1,72,610 in place of 1,69,520. F.No.275/192/2009-IT(B) (Ansuman Pattanaik) Director (Budget)