deduct
Verb
Meaning
To lead forth or out.
To take away, separate, or remove, in numbering, estimating, or calculating; to subtract; -- often with from or out of.
To reduce; to diminish.
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subtract this amount from my paycheck
My employer is withholding taxes
Accordingly, employees who agree to deduct the tax from their salaries, and have earned between Rs 750,000 to Rs 1.5 million in total from January to March will be liable to a six percent tax rate.
But under the old rules, if you deduct Rs 2 lakh (20% of your income) under various sections like 17(2)(viii), 80C, 80D and 24b, your tax dues fall to Rs 75,400.
Additionally, the ability to deduct state and local property taxes has been capped at $10,000, where a limit didn't previously exist.
It also requested the Osun State Government to deduct from His Lordship gratuity, salaries received by him from September 3, 2020, and remit same to the National Judicial Council”, Oye.