Income Tax Act, 2025
Section 8: Subs. by Act 21 of 1998, s. 47, for sub-section (2B) (w.e.f. 11998).
8. Subs. by Act 21 of 1998, s. 47, for sub-section (2B) (w.e.f. 11998).
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(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” below the amount that would be so deductible if the other income and
the tax deducted thereon had not been taken into account.]]
1[(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.]
2[(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 computing tax deductible under sub-section (1), obtain
from the assessee the evidence or proof or particulars of prescribed claims (including claim for set-off of
loss) under the provisions of the Act in such form and manner as may be prescribed.]
(3) The person responsible for making the payment referred to in sub-section (1) 3[or sub-section
(1A)]4[or sub-section (2) or sub-section (2A) or sub-section (2B)] may, at the time of making any
deduction, increase or reduce the amount to be deducted under this section for the purpose of adjusting
any excess or deficiency arising out of any previous deduction or failure to deduct during the financial
year.
(4) The trustees of a recognised provident fund, or any person authorised by the regulations of the
fund to make payment of accumulated balances due to employees, shall, in cases where sub-rule (1) of
rule 9 of Part A of the Fourth Schedule applies, at the time an accumulated balance due to an employee is
paid, make therefrom the deduction provided in rule 10 of Part A of the Fourth Schedule.
(5) Where any contribution made by an employer, including interest on such contributions, if any, in
an approved superannuation fund is paid to the employee, 5[tax] on the amount so paid shall be deducted
by the trustees of the fund to the extent provided in rule 6 of Part B of the Fourth Schedule.
(6) For the purposes of deduction of tax on salary payable in foreign currency, the value in rupees of
such salary shall be calculated at the prescribedrate of exchange.
6* * * * *
7[192A. Payment of accumulated balance due to an employee.—Notwithstanding anything
contained in this Act, the trustees of the Employees’ Provident Fund Scheme, 1952, framed under
section 5 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952) or any
(w.e.f. 11998).
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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—
such other income and tax, if any, deducted thereon; and
the loss, if any, under the head “Income from house property”,
also into account for the purposes of making the deduction under sub-section
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.]
2[
The person responsible for making the payment referred to in sub-section
shall, for the
purposes of estimating income of the assessee or computing tax deductible under sub-section
The person responsible for making the payment referred to in sub-section
3[or sub-section
or sub-section
or sub-section
The trustees of a recognised provident fund, or any person authorised by the regulations of the
fund to make payment of accumulated balances due to employees, shall, in cases where sub-rule
of
rule 9 of Part A of the Fourth Schedule applies, at the time an accumulated balance due to an employee is
paid, make therefrom the deduction provided in rule 10 of Part A of the Fourth Schedule.
Where any contribution made by an employer, including interest on such contributions, if any, in
an approved superannuation fund is paid to the employee, 5[tax] on the amount so paid shall be deducted
by the trustees of the fund to the extent provided in rule 6 of Part B of the Fourth Schedule.
For the purposes of deduction of tax on salary payable in foreign currency, the value in rupees of
such salary shall be calculated at the prescribedrate of exchange.
6* * * * *
7[192A. Payment of accumulated balance due to an employee.—Notwithstanding anything
contained in this Act, the trustees of the Employees’ Provident Fund Scheme, 1952, framed under
section 5 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952) or any