Profession tax deduction from salary u/s 16(iii)
This query is : Resolved
Prajakta Potdar
(Querist)
23 April 2014
Respected Sir
is deduction u/s 16 (iii) is inclusive in 80C deduction. or apart from maximum limit of Rs.100000=00 under 80C, additional deduction is available u/s 16(iii).
Please guide.
is deduction u/s 16 (iii) is inclusive in 80C deduction. or apart from maximum limit of Rs.100000=00 under 80C, additional deduction is available u/s 16(iii).
Please guide.
CA Jitender Sharma
(Expert)
23 April 2014
standard deduction u/s 16(iii) , is in addition to deduction u/s 80c .
eg
16(iii) Amount Rs 2400
80C Amount Rs 100000
Total deduction Rs 102400
eg
16(iii) Amount Rs 2400
80C Amount Rs 100000
Total deduction Rs 102400
Rupesh Jain
(Expert)
23 April 2014
deduction u/s 80C in deduction Rs. 100000/- and under section 16 deduction
is different from U/s 80c deduction
is different from U/s 80c deduction
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