FREINDS,
IF SALARY OF A IS RS.105000/- AND ALLOWANCES EXEMPT U/S 10 IS RS.10000/- THEN WHETHER THIS IS TO BE INCLUDED IN FILING 4 TH QTR ETDS 24Q OR ONLY THOSE EMPLOYEES ONLY TO BE ADDED WHOSE INCOME CHARGEABLE UNDER HEAD OF SALARY EXCEEDS 100000/-????
PLS ITS URGENT
ANKUR
Ankur,
U do not need to file 24Q, as the same is filed only when taxable income after all deduction. fOR UR REFERENCE i AM quoting the point from the FAQ in the NSDL site .
Form No. 24Q, should the particulars of even those employees be given whose income is below the threshold limit or in whose case, the income after giving deductions for savings etc. is below the threshold limit?
Ans. (i) Particulars of only those employees are to be reported from the 1st quarter onwards in Form No. 24Q in whose case the estimated income for the whole year is above the threshold limit.
(ii) In case the estimated income for the whole year of an employee after allowing deduction for various savings like PPF, GPF, NSC etc. comes below the taxable limit, his particulars need not be included in Form No. 24Q"
I hope u r answered
CAclubindia
