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Deductions for assessment year 2013-14 (Income Tax)

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This query is : Resolved


( Author )
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

( Expert )
10 May 2012

For revised Deductions you can easily any ready tax reckoner. dont be that much lazy


CA CS Amit S. Kedia

( Expert )
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

( Expert )
10 May 2012

There is no at all called Section 80 TTA


CA CS Amit S. Kedia

( Expert )
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

( Expert )
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

( Expert )
10 May 2012

I dont know this. but, the income tax department has not updated the same.


chaitanya cherukuri

( Expert )
10 May 2012

K Fine there is a deduction u/s 80TTA. Just now verified it in a book


CA CS Amit S. Kedia

( Expert )
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.


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