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TMI BlogSalary and accumulated balance due to an employee.X X X X Extracts X X X X X X X X Extracts X X X X ..... e at the time of such payment at the average rate of income-tax computed on the basis of the rates in force for the tax year in which the payment is made, on the estimated income of the assessee under this head for such year. (2)(a) Without prejudice to the provisions of sub-section (1), the person responsible for paying any income in the nature of a non-monetary perquisite chargeable to tax unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecified security or sweat equity share is allotted or transferred, within the time as specified for the payee in section 289(3). (4) (a) The person responsible for paying under sub-section (1), shall take into account the following particulars furnished by the assessee, at his option, in such form and manner as prescribed, for the purpose of making deduction under the said sub-section and such pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not be reduced in any case, except on account of-- (i) loss under the head "Income from house property"; and (ii) the tax deducted and collected as per other provisions of this Chapter. (5) The person responsible for paying any income chargeable under the head "Salaries" to the assessee- (a) shall furnish a statement in such form and manner, as prescribed, with correct and complete particu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aragraph 9 of Part A of Schedule XI applies, at the time an accumulated balance due to an employee is paid, make therefrom the deduction provided in paragraph 10 of Part A of Schedule XI; (b) Where any contribution made by an employer, including interest on such contributions, if any, in an approved superannuation fund is paid to the employee, tax on the amount so paid shall be deducted by the tr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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