ITR-1
This query is : Resolved
31 July 2010
For the F.Y.2008-09 my gross salary was Rs.1,80,000 my employer deducted Rs.2,500 towards the professional tax and Rs.24,000 was eligible as a deduction as per the provisions of the I.T. Act. So my net salary was Rs.153500.
now my question is while preparing the ITR-1 what amount is to be shown in the column income chargeable under the head salary, the net salary of Rs.1,53,500 or the total salary of Rs.1,80,000(in such case at which place in the ITR-1 i can claim the deduction of P.T. and HRA)
now my question is while preparing the ITR-1 what amount is to be shown in the column income chargeable under the head salary, the net salary of Rs.1,53,500 or the total salary of Rs.1,80,000(in such case at which place in the ITR-1 i can claim the deduction of P.T. and HRA)
31 July 2010
153500/-
31 July 2010
Show Rs. (180000-2500)
=Rs.177500/- as Income from salary.
Rs24000/- will be shown in TDS sheet.
=Rs.177500/- as Income from salary.
Rs24000/- will be shown in TDS sheet.
31 July 2010
I think 24000 is allowance exempt u/s 10 and not TDS.
So income only Rs. 153,500/- show allowance exempt in salary sheet Rs. 24,000/-.
So income only Rs. 153,500/- show allowance exempt in salary sheet Rs. 24,000/-.
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31 July 2010
Sir Rs.24,000/- was not TDS, it was the amount of HRA. As my taxable income was below the exemption limit so my employer not deducted the TDS.
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31 July 2010
Sorry. I misunderstood the fact.
It will be Rs.153,500/- as suggested by Pyne Ji & Aditya Ji.
Thanks for correcting.
It will be Rs.153,500/- as suggested by Pyne Ji & Aditya Ji.
Thanks for correcting.
31 July 2010
yes.. it will be 153500/-
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