Salary Query

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Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2010 I have to know do we can add festival advance,clean overdraft, medical reimburesment & other reimburement & allowances in salary income ?

how are there effects in it return ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

13 June 2010 Festival advance is not Income to the employee and others can add to salary as respective allowances and perqusities

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2010 Thank you sir,
I have also to know that medical reimburesment is rs.47540/- would i am able to claim rs. 15000/- ?

what should i have to do rs. 47540/- add and deduction in 80D Rs.15000/- in income tax return ?

pls help me once again. sir,

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

13 June 2010 Medical reimburement is Rs.15000/ exempted you can claim the same if the medical reimbursment portion in your salary

Dedcution Sec.80D medcial insuranace premium can be claimed Medical Reimbursment and medical insurance both are different if you are having both the same can be claimed

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2010 no sir i have only reimburesment of medical expense.
i am confused in form 16 where i have to put this amount of expenditure & exemption of rs. 15000/-

pls give me your valuable advice

thanxs sir

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

13 June 2010 Medical reimburesment no need to show in the Form -16, Since it is Perquisite if the claim amount exceeds Rs.15000 what ever exceeded beyond Rs.15000 need to show in form 12BA

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2010 thanxs sir,
what about other expenses reimburesemnt ?

do they also have to show in 12BA ?

Is 12BA form is compulsory with form 16 ? if yes please tell me where to download ?

thanks you very much sir,

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

13 June 2010 Generally all the reimbursement are covered under perqusites in the salary Income, Any perqusites exceedng the exemption limit need to show in the form 12 BA which is the form to be issued along with Form 16 you can download the Form 12BA with following link

https://www.caclubindia.com/share_files/form-12ba-14686.asp

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2010 THANKS ALOT SIR,

FINAL CONSIDERATION OF THIS QUERY

I HAVE TO KNOW SIR IF COMPANY RECOVERY EXCESS HRA PAID FROM EMPLOYEE.

MEANS IF COMPANY PAY RS. 28600/-HRA YEARLY AND AT THE END RECOVER RS. 3133 FROM HRA.

SECONDLY RS. 1694/- IS LOSS OF PAY ?

WHAT WOULD I HAVE TO DO ?

SIR IF I MISSED SOMETHING ABOUT SALARY, REIMBURESEMENT & LOSS OF PAY

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2010 WAITING FOR REPLY SIR

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

13 June 2010 Since the HRA Recovered excess paid while calculating HRA exemption you can reduce the HRA recived to that extent of recovered

Loss of pay can be reduced from the gross salary received while calculating tax

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2010 PLS TELL ME SIR HOW MUCH HRA I WILL GET EXEMPTED.

MY BASIC IS RS. 237020 + D.A IS RS. 134464 = 371484.
HRA RECEIVED RS. 28600/- RECOVERED RS. 3133/-

RENT PAID RS. 30000/-

YOU ARE VERY HELPFUL SIR,

THANKS

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

13 June 2010
1. Actual HRA received = 28600-3133= 25467

2. 40% Basic and DA = Rs.148594

3.Rent paid less 10% salary= Rs.-7149

What ever details provided by you either monthly or yearly not mentioned since I taken as yearly the result is coming negative there is no exemption on your HRA

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