<t$urX{cgqtqt

South East Central Railway

.q 6.C'1 fr-,:!.. *l -ll\

gwrw rrffi+ Brrr.r, nqq rrf, , rqnrctu+ +r+tw, kfl TU( (9. rr. ) 4 9 5 0 0 4
HEAD QUARTER PERSONNEL DEPARTMENT, 1't FLOOR, GM's OFFICE, BILASPUR (C.G.) 495004
No. P-HQ/BlL/lncome Tox/ Dote:- 14.09.202a

Circulqr (Noiice)

Sub:-Deduction of lncome Tox of source under Section 192 of lncome Tox Act for
lhe finonciol yeor 2020-21.

As per recent chonges by Finonce Ministry vide Section I I5BAC of Finonce

Ac|,2020, opportunity hos been provided to opt for poying income tox os per new tox
regime or to be remoin with old income tox system.

ln the new tox regime, income tox is to be poid os per new slob rotes on
totol income computed without cloiming ony deductions/exemptions opplicoble from
FY 2020-21 (AY 2021-22). Below toble summorizes tox rotes os per optionol tox regime
(new) Vs old rotes:-

Totol lncome (Rs.) Existins (Old) Tox Roles (%) New Tox Roles (%)
0 to 2,5O,OO 0% 0%
r07
2,50,001 to 5,00,000 J/o tr07
J/o
.
5,00,001 to 7,50,000 zv /o C7
10%
7,50,001 to 10,00,000 1 EC7
lJ/o
10,00,001 to 12,50,000 30% a^o7
zv /o
12,50,001 to 15,00,000 a E67
LJ /O

15,00,001 & obove aw /o

Note:- Heolth & Educotion cess @ 4% is equolly opplicoble in both the tox systems.

Some of the solient points of new tox regime (Optionol) ore mentioned
below:-

L The employees will hove to submit option to choose either the existing income
tox regime or new tox regime (optionol) of the stort of the finonciol yeor.

2. Option once exercised con not be modified during thot finonciol yeor. ln the
next finonciol yeor, fresh option moy be exercised.

3. All deductions ollowed under Chopter Vl-A (except the deduction under Sectron
80 CCD (2) ond deductions ollowed under Section l0(l3A) HRA ond under
Section 24 (lnterest on borrowed copitol/income from House Property) etc. will
hove to forgo.

4. Vorious ollowonces/investments will not be eligible for cloiming

deduction/exemption.

ll is requested thot Heods of deportments/units moy kindly give vide

publicity of these instructions omongst lhe officers ond stoff under their control io submil
option obove (in ihe formot ottoched os Annexure-A) so os to reoch this office lotest by
09th October,2020.

Contd......Pl2
 Pl2

It is mode cleor thot in cose Option not received by the due dqte in
respect of ony employee, it sholl be presumed thot such employee is nol willing to opt
for new lox regime ond income tox will be deducted os per tox slob meont for existing
income iox regime.

liis olso requested thot the employees who wont to continue wt.ih the
existing tox regime moy be informed to submit their detoils of tox soving ond lnvestment
etc (in the formotted ottoched os Annexure-B), if ony, with the copies of supporting
documents in the prescribed formot lotest by O?th October, 2020.

All controlling offlcers/supervisors cre requested to obtoin options from the

officers & stoff in their deportment/unit ond io submit to the Personnel Bronch/Bill
Drowing Office in one bunch. Declorotions should not be sent in piece meol mcnner.

Ihis hos the opprovol of competent outhority.

Encls.-As obove (Annexure-A & B)

!
@1wn
(Rojiv Kumor Gupto)
Asstl. Personnel Officer/HQ
For PCPO/SECR/BSP

Copy for informotion & necessqry oction lo-

(1) AGM/SECR/BSP.
(2) All PHODs/CHODS-
(3) Secretory to GM.
(4) All concerned.

For PCPO/SECR/BSP
 "
Format for Declaration to be submitted by the officer/e',,rtt;::.'I::
provisionofSec'l15BACofIncomeTaxAct'1961
(For the current Financial Year 2O2O-2L)

To

(Bill Drawing AuthoritY)

Sub:-Declaration of option for TDS to be deducted from

salary Under
Oad/ New Tax regime.

Sir, l
for the current
I hereby exercise my option for the deduction of TDS from my salary
financial Year 2O2O-21 as under:

Tax Regime OPted

(pleasewriteoldTaxRegimeorNewTaxRegimeinabovespace)

IunderstandthattheoptiononCeexercisedisfinalandnochange|sallowed
for this current financial year 2020-2L'

Signature
Name
Designation
PFlNPS No.
Department
Office
Bill Unit No.
 South E:rst Central Raihval:
Annexure'B'

(To lle filled if continuing in existing Tax Regime)

DIICt,AI{ATION OI{ THE I'URPOSE OF CALCL]I,A'I'ION AND

FOTTN{ F
DEDUCTION OF INCOMIi TAX IIOR THti YEAIi. 2820-2(12I

NAME:

PF/NPS No.

PAN No.

Insurance Details (il any)

sl. Nanre'ol Policy No. On u,hclsc AnroLrrtl ot- Narne of

No. nsurancc
I lif'c prenr i unr the Policl'
Companr' hrsurance paicl 1,earl1
u,as I-nadc

NB: In colunrn (-1) above. plcasc state tou'alds ou'n or u,'ile's or chilclren's
ecluctitic'rn policl
as the case nrav be.
l. I lirnrish lrelou the particLrlars ol'rir-noLrnt of clcposits ton,arcls PJ'F/l-5 r'ears
account r-rnder the Post oltrce/Saving Bank ancl SBI

Sl No. A/c. No. & Aclclress ol I)ost Date ol' Total depositecl/to be
ar-r.ror-rnt
()l'flce/Banli cleposit depositecl clurins the flnancial
lear 2019-20

f. lanr resicling in n'n,ou'n hor"rsc/parcr-rts house/r,r,il'e/hr-rsbancl/son ol'claLrghter's

house/in reutc(l lrousc at and par,ing actual renl ol'Its
ltcr nronth. Original latcsl rcnt rcceipt firr thc nronth of together
riith a copv of thc sunrc clLrll'signecl orr the copl'ol'thc rcccipt ii; enclosecl.

Contd. . ..2/-
i. Merlorial
Ar-r.r-u-rt clonatecl tou,urcls National Def-ettse lluncl, .lau'aharlal
Neltrr-r
tirncl. printe N,linistcr's l)roLrght Reliel'ancl for the Prime Minister's
National
ILe 1iel- l-'urttl tlt' the Nationtl Chilclrcrl's lrt-tncl'

(i'e'
-1.A,-r.Lrnt ot'rcn-rlrneration leceir,ecl in fbreign Curt'encl tbnn iiucl LnrploVer
Outsicle lnclia.
lroreisr-l Lrrrplor,ee if an Inclian col-]cenrecl) or the service rertdercd

-5.
'l-he t.tal Irees/Debtols Share receivccl dr-r|irlg llrlarlcial
ar-r-i.r-nrt o['LlonorariLrnri
vear otlter thart throLrgh the irltclrlecliarl'o1'the Bill Cornpilirlg Otficer'

(i) Nltiolal sayipgs cerrillcates(VlII th issr,rc) pltrchasecl clurring l0l9-20

(itlvestecl & liliell' to be investecl)
ii) UI-lP/PPIr/iJTl:
Details ol'antotttlt Cl ertitlcate N o./Accor-tut No.

(r. National saYing certitlcatcs (VIII th issLre) ptrrchasecl in the previotts Years &
intercsl thereotl:-

Details olAtllotttlt C ertit-icate No. Aurouttt ol'ltlterest

accorci in NSC
puu'chasecl irt tlte
previor-rs vear ( ettc losc
certified

7. Anv arrears/honOrariun] receivec'l fron'r Departllent

....

8. Artl' Other details olitlvesturetlt:-

(i)

(ii)

(iii)
Siglratrrre
Statiort: []ilasPtrr
Nanre :.. . ...
Datecl:
I)esignatiotl.....