CBDT Notification For TDS Of Salored Taxpayer U/S 192
In the light of the amendments made vide Finance Act 2023 under section 115BAC, CBDT has issued a circular for the purpose of tax deduction under section 192.
As per the Circular No. 4 of 2023, the employers would seek declaration/intimation from the employees as to whether they will opt for the default new regime or old regime. In case no intimation is provided the employee may assume that the employee has opted for the default new regime.
Further it has been mentioned that such intimation provided to the employer is not equivalent to excercising option under section 115BAC(6).
