form 16

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PANKAJ MISHRA (Querist)
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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.

Ratan Sharma

Ratan Sharma (Expert)
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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.

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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25 July 2009 Yeah. Agree with the views of Mr. ratan Sharma. Form 16 is absolutely correct wrt this issue.

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