Excess deduction in form 16
This query is : Resolved
14 July 2016
Hi All
I got form 16 for FY 2015-16 from my co., showing Deduction u/s 80C 90000 which is incorrect.
I have invested only upto 40000.
How to proceed with ITR filing, should i show 90000 or 40000.?
I got form 16 for FY 2015-16 from my co., showing Deduction u/s 80C 90000 which is incorrect.
I have invested only upto 40000.
How to proceed with ITR filing, should i show 90000 or 40000.?
14 July 2016
you need to show 40000 and pay the short fall in tax if any
14 July 2016
To the extent of actual Investment made by you must be shown in the return. Any short fall leading to tax liability must be deposited with the Government before filing your return of income.
14 July 2016
Should i intimate to my co. for correction in form 16 &
can i claim other allowances showing in form 16 in my itr.
can i claim other allowances showing in form 16 in my itr.
15 July 2016
You may notify the change to your employer.
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
- Supply through E-commerce Operators
- STCG....................................................
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- STCG FOR GOLD ETFs
- SALE BILL AGAINST GOODS RETURN
- GST ON DAMAGED GOODS
- Taxation on LTCG for property sold after 24JUL2024
- TDS related Query_Liquidated Damages
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
