Deductions for assessment year 2013-14

This query is : Resolved

Philip (Querist)
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10 May 2012 Dear Sir / Madam,

Kindly provide revised Deductions allowable for salaried employees for the Assessment year 2013-14 with notification

Regards,
Philip J.

chaitanya cherukuri

chaitanya cherukuri (Expert)
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10 May 2012 For revised Deductions you can easily any ready tax reckoner. dont be that much lazy

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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10 May 2012 Amendment in taxation of salaried employee-

Basic Limit- Raised to Rs. 2 lakhs
Deduction-
U/s 80CCG- Max Rs 25000 ( 50% of amount invested in equity scheme)
U/s 80TTA- Max Rs. 10,000( Interest on saving bank Account)

This may not be exhaustive list of amendments.

chaitanya cherukuri

chaitanya cherukuri (Expert)
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10 May 2012 There is no at all called Section 80 TTA

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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10 May 2012 Mr. Chaitanya,

I request you to update yourself by reading finace bill, 2012 wherein both the sections are incorporated.

I dont know, how you have raised query for only one section!!!

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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10 May 2012 Mr. Chaitanya,

I request you to update yourself by reading finance bill, 2012 wherein both the sections are incorporated.

I dont know, how you have raised query for only one section!!!

chaitanya cherukuri

chaitanya cherukuri (Expert)
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10 May 2012 I dont know this. but, the income tax department has not updated the same.

chaitanya cherukuri

chaitanya cherukuri (Expert)
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10 May 2012 K Fine there is a deduction u/s 80TTA. Just now verified it in a book

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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10 May 2012 You dont know that is why I am requesting you to read the finance bill very carefully.

Section 80CCG is also not updated by the dept.
Always make the comment in proper way.
Thanks.