Form 24q salary amount
This query is : Resolved
CA Bhavik Prajapati
(Querist)
05 July 2014
If employee's monthly salary is Rs.50000 and his employer deduct Rs.10000 as GPF , 200 as insurence and 200 as prof tax..then in first quarter of tds return ..amount of payment or credit as salary which amount should be shown Rs.50000 i.e gross salary or rs.39600 i.e.net salary. after taking deduction of 80C and section 16..please guide
CA Mohit Bansal
(Expert)
06 July 2014
Net salary i.e. 39600
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