As per Section 192, the employer is required to deduct tax at source on the amount payable at the average rate of income tax. This is to be computed on the basis of rates in force for the financial year in which payment is made.
The Finance Act of each financial year specifies the rates in force for deduction of tax at source.
Source: Income Tax Department
The Finance Act of each financial year specifies the rates in force for deduction of tax at source.
Source: Income Tax Department
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