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TMI BlogSalaryX X X X Extracts X X X X X X X X Extracts X X X X ..... section 17, may pay, at his option, tax on the whole or part of such income without making any deduction therefrom at the time when such tax was otherwise deductible under the provisions of sub-section (1). (1B) For the purpose of paying tax under sub-section (1A), tax shall be determined at the average of income-tax computed on the basis of the rates in force for the financial year, on the income chargeable under the head Salaries including the income referred to in sub-section (1A), and the tax so payable shall be construed as if it were, a tax deductible at source, from the income under the head Salaries as per the provisions of sub-section (1), and shall be subject to the provisions of this Chapter.] 16 [ (1C) For the purposes of deduc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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).] 14 [(2A) Where the assessee, being a Government servant or an employee in a 6 [company, co-operative society, local authority, university, institution, association or body] is entitled to the relief under 18 [****] 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 particu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come under the head Salaries , except where the loss under the head Income from house property and the tax deducted in accordance with other provisions of Part B and tax collected in accordance with the provisions of Part BB, of this Chapter, has been taken into account. ] 9 [(2C) A person responsible for paying any income chargeable under the head Salaries shall furnish to the person to whom such payment is made a statement giving correct and complete particulars of perquisites or profits in lieu of salary provided to him and the value thereof in such form and manner as may be prescribed.] 15 [(2D) The person responsible for making the payment referred to in sub-section (1) shall, for the purposes of estimating income of the assessee or co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e prescribed rate of exchange. 13 [***] ----------------------- Notes :- 1. and super-tax omitted by the Finance Act, 1965, w.e.f. 1-4-1965. 2. and average rate of super-tax respectively omitted by the Finance Act, 1965, w.e.f. 1-4-1965. 3. Substituted for rates of tax in force by the Finance Act, 1968, w.e.f. 1-4-1968. 4. Sub-sections (1A) and (1B) inserted by the Finance Act, 2002, w.e.f. 1-6-2002. 5. Inserted by the Finance Act, 1987, w.e.f. 1-6-1987. Original sub-section was omitted by the Finance Act, 1965, w.e.f. 1-4-1965. 6. Substituted for public sector undertaking by the Finance Act, 1989, w.e.f. 1-6-1989. 7. Inserted by the Finance Act, 1989, w.e.f. 1-6-1989. 8. Substituted by the Finance (No. 2) Act, 1998, w.e.f. 1-8-1998. Prior ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lars of- ( a ) such other income and of any tax deducted thereon under any other provision of this Chapter; ( b ) the loss, if any, under the head Income from house property , in such form and verified in such manner as may be prescribed, and thereupon the person responsible as aforesaid shall take- ( i ) such other income and tax, if any, deducted thereon; and ( ii ) the loss, if any, under the head Income from house property , 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 except where the loss under the head Income from house property has been taken into account, from income under the head Salaries belo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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