Section 80 c
This query is : Resolved
15 October 2013
Dear Sir,
our company is deducting provident fund under employees provident fund act,1956. the company is providing salary on CTC basis, therefore, all the deduction related to pf is deducted from salary. However, section 80 c said that employees contribution to PF is available for deduction. should the employers contribution also be treated as employees contribution for section 80C because company is paying on CTC basis and no additional amount is contributed by employer.
our company is deducting provident fund under employees provident fund act,1956. the company is providing salary on CTC basis, therefore, all the deduction related to pf is deducted from salary. However, section 80 c said that employees contribution to PF is available for deduction. should the employers contribution also be treated as employees contribution for section 80C because company is paying on CTC basis and no additional amount is contributed by employer.
15 October 2013
Employer contribution is not taxable and exempted from income tax, since exempted not eligible for deduction u/s.80C
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Section 50-fixed asset-->building ceases to exist
- Experts need help
- Gift Received from nonblood relative
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
