Income
This query is : Resolved
30 November 2016
i get salary every month 25000.00, tds 194j is deducted @ 10% on my salary every month, get in hand Rs. 22500.00, yearly income Rs. 300000.00, get in hand Rs. 27000.00, please suggest me what income show in my itr.
01 December 2016
Since TDS deducted u/s 194J, you have to declare income under profession you have to file ITR -4
01 December 2016
what will be my income, my total expenses 2000000 yearly and 1000000 saving, i want to know that what will be my income 3 lakh or 1 lakh,
01 December 2016
You have mentioned 20 lakhs expenses 10 lakh saving?
01 December 2016
sorry by mistake wrote, 2 lakh expenses and 1 lakh saving,
01 December 2016
Your income will be 300000 /- but saving will be Gross Income - personal Exps - Chapter VI A saving - Tax paid = saving available for investment . If. You declare gross income if you declare 1 lakh income same to be calculated on one lakh.
01 December 2016
ok thank you, where can i get chapter VIA details, can you provide me details plz
01 December 2016
Chapter VI A is sec 80C, 80CCC, 80CCD, 80D,80E , 80TTA deduction claimed in tax return.
02 December 2016
1 Gross Total Income 300000.00
2 Deduction Under Chapter VIA 0.00
3 Total Income 300000.00
its mean, i have to pay tax on Total income, not taken lic or any premium, so deduction chapter will be zero, which amount company deducted TDS 10% on my salary 300000.00= Tds 30000.00, will i get refund full amount of TDS from ITR department.
2 Deduction Under Chapter VIA 0.00
3 Total Income 300000.00
its mean, i have to pay tax on Total income, not taken lic or any premium, so deduction chapter will be zero, which amount company deducted TDS 10% on my salary 300000.00= Tds 30000.00, will i get refund full amount of TDS from ITR department.
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