Easy Office

EXEMPTION & DEDUCTION

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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.
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
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.
Profile Image

TARIQUE RIZVI

Profile Image

TARIQUE RIZVI (Querist)
01 August 2020 Sir basically what is the difference between exemption and deduction ?



Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
01 August 2020 Incomes were exempted and expenditure and investment were deducted
Profile Image

TARIQUE RIZVI

Profile Image

TARIQUE RIZVI (Querist)
01 August 2020 Raman Sir
Thanks for making me understand

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


Easy Office

Trending Online Classes

view all classess
CCI Pro


Answer Query



Quick Links