Personal income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 March 2012
My client is getting salary from 2 companies.And getting 2 tds certificates also.Please let me know while filing the return whether he can take the deduction for profession tax of both companies and travelling alowance of Rs.9600/ from 2 companies, all together Rs.2500+Rs.2500 and Rs.9600+Rs.9600 as deduction in the computation of income.
Please reply back at the earliest.
Please reply back at the earliest.
14 March 2012
For income tax purpose total amount deducted as professional tax would be take as deduction so he can claim professional tax of Rs.5,000 as deduction. Conveyance allowances paid by the employer is exemption upto Rs.9,600 thus he can claim both the employer's conveyance allowances i.e Rs.19,200.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
15 March 2012
He will be allowed to claim total professional Tax as deduction i.e 5000 but travelling allowance Rs.9600 only allowed.
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