Esi contribution
This query is : Resolved
26 October 2012
Dear Sir,
ESI Contribution deducted from my salary @1.75% being Rs.105/- per month. Can I claim deduction of the amount u/s 80C in my income tax computation
ESI Contribution deducted from my salary @1.75% being Rs.105/- per month. Can I claim deduction of the amount u/s 80C in my income tax computation
26 October 2012
No this cannot be claimed as a deduction u/s 80C . Since ur esi is being deducted so ur salary must be below Rs15000- pm I presume and the Non Taxable Limit is Rs. 200000/-p.a so why are u worrying abt 80C deduction? Do u have any other sources of Income
26 October 2012
Even if you have income from other sources making your income more than taxable limit, ESI contribution cannot be claimed under 80C.
Message likes :
1 times
27 October 2012
Dear Sir/Madam,
Thank u. I have House Property income (after local tax and deduction 30) 260000/- and interest from post office monthly income 30,000/- besides my annual salary income Rs.72,000/- (EPF Rs.8640/-) my taxable income 3,53,360/-. Tax thereon 15996/- advance tax paid in sept, 2012 rs.5,000/-. Hence I wanted your advice in ESI though I may get poltry sum as deduction
Thank u. I have House Property income (after local tax and deduction 30) 260000/- and interest from post office monthly income 30,000/- besides my annual salary income Rs.72,000/- (EPF Rs.8640/-) my taxable income 3,53,360/-. Tax thereon 15996/- advance tax paid in sept, 2012 rs.5,000/-. Hence I wanted your advice in ESI though I may get poltry sum as deduction
27 October 2012
No u cannot claim ESI deduction u/s 80C, Try to invest Rs.1,00,000- u/s 80C, if u have medicliam claim deduction u/s 80D and if u have hra element in your salary claim exemtption u/s 10 (13A), if you have children going to school claim school fees as deduction u/s 80C
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Price inclusive or exclusive of GST while made entry in P& L Account
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Minimum tax payable to file Updated return
- Dep. as per companies act
- Applicability of GST on Salary Reimbursement Component
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- SALARY CAN BE CAPITALIZE
- GST ISSUE OF INPUT AND OUTPUT GST
- GST Intimation due to Government took possession of Business Premises under PPE Act
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
