Income tax
This query is : Resolved
18 May 2010
If my total salary income Rs.170000/- and EPF employees contribution deduction 15000/- after epf employees contribution deduction my salary income below exemption limit Rs.160000/-i.e. total income salary for duction Rs.155000/-.Employer has given salary certificate after employess contribution deduction Rs.15000/-. Can I utilize EPF employees deduction Rs.5000/-(Rs.15000-10000) for calculation of my personal total income or other employer's salary income in ITR-2 ?
CA. VIKAS GUPTA
(Expert)
18 May 2010
Hi,
your taxable salary will be Rs.170000/- and you can claim deduction of Rs.15000/- for EPF u/s 80C in your income tax return.
your taxable salary will be Rs.170000/- and you can claim deduction of Rs.15000/- for EPF u/s 80C in your income tax return.
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