India's Central Board of Direct Taxes has issued Circular No. 4 of 2023, which clarifies the deduction of tax by employers considering the personal income tax regime under the new sub-section 1A of section 115BAC of the Income-tax Act 1961 as inserted by the Finance Act 2023. Under subsection 1A, the optional personal income tax regime introduced in 2020 is essentially made the default regime…