EXEMPTION & DEDUCTION
This query is : Resolved
30 July 2020
Respected Sirs,
Rds to all of you
PTRC , PTEC, EPF AND ESIC ALL THERE ARE EXEMPTIONS OR DEDUCTIONS AND AS UNDER WHICH SECTION OF INCOME TAX ?
Please guide me and oblige.
Rds to all of you
PTRC , PTEC, EPF AND ESIC ALL THERE ARE EXEMPTIONS OR DEDUCTIONS AND AS UNDER WHICH SECTION OF INCOME TAX ?
Please guide me and oblige.
30 July 2020
These are seductions.
According to Section 16 (iii) of the Income Tax Act 1961, the profession tax paid by an employee is allowed as a deduction from his/her gross salary income.
EPF and ESI deduction allowed under section 80C.
According to Section 16 (iii) of the Income Tax Act 1961, the profession tax paid by an employee is allowed as a deduction from his/her gross salary income.
EPF and ESI deduction allowed under section 80C.
01 August 2020
Sir basically what is the difference between exemption and deduction ?
01 August 2020
Incomes were exempted and expenditure and investment were deducted
01 August 2020
Raman Sir
Thanks for making me understand
Thanks for making me understand
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