form 16
This query is : Resolved
PANKAJ MISHRA
(Querist)
25 July 2009
Sir,
In form 16 contribution of employer Rs.10524/-deducted under section 10 and employee contribution Rs.10524/- deducted under section 80C. (employee and employer both are included in salary )
But our return preparer prepared ITR by considering only Rs.10524/- under section 80C
Please advise form 16 is correct or not.
In form 16 contribution of employer Rs.10524/-deducted under section 10 and employee contribution Rs.10524/- deducted under section 80C. (employee and employer both are included in salary )
But our return preparer prepared ITR by considering only Rs.10524/- under section 80C
Please advise form 16 is correct or not.
Ratan Sharma
(Expert)
25 July 2009
Hi,
The contribution of employer is not to be included in salary. Therefore there is no question of claiming deduction u/s. 10 as regards employers contribution to providend fund. There is no need to show this amount in form No. 16.
Employees own contribution Rs. 10524/- is only eligible for deduction u/s. 80C.
The contribution of employer is not to be included in salary. Therefore there is no question of claiming deduction u/s. 10 as regards employers contribution to providend fund. There is no need to show this amount in form No. 16.
Employees own contribution Rs. 10524/- is only eligible for deduction u/s. 80C.
CA.Tarun Maheshwari
(Expert)
25 July 2009
Yeah. Agree with the views of Mr. ratan Sharma. Form 16 is absolutely correct wrt this issue.
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