Section 80ccd(2)
This query is : Resolved
22 July 2018
DEAR SIR,
MY DOUBT IS INVESTMENT U/S SECTION 80C-150000, ADDITIONAL NPS BENEFITS U/S 80CCD(1)B,-50000, AGAIN WE CAN CLAIM DEDUCTIONS EMPLOYER'S CONTRIBUTION TO PENSION FUND U/S 80CCD(2) EXTRA MEANS
SECTION 80C,CC, UP TO 150000,
SECTION 80CCD(1)B ADDITIONAL -50000,
SECTION 80CCD(2), 58976 EMPLOYER CONTRIBUTION
TOTAL 150000+50000+58976=258976.
IS IT CORRECT CLARIFY ME
REGARDS
MY DOUBT IS INVESTMENT U/S SECTION 80C-150000, ADDITIONAL NPS BENEFITS U/S 80CCD(1)B,-50000, AGAIN WE CAN CLAIM DEDUCTIONS EMPLOYER'S CONTRIBUTION TO PENSION FUND U/S 80CCD(2) EXTRA MEANS
SECTION 80C,CC, UP TO 150000,
SECTION 80CCD(1)B ADDITIONAL -50000,
SECTION 80CCD(2), 58976 EMPLOYER CONTRIBUTION
TOTAL 150000+50000+58976=258976.
IS IT CORRECT CLARIFY ME
REGARDS
22 July 2018
Correct, but 80CCD(2) should be limited to 10% salary.
22 July 2018
THANK YOU SIR,
I HAVE ANOTHER SMALL DOUBT WHILE PREPARING INCOME TAX RETURN FOR TRADERS, LATEST ITR FORM NEED TO BE FILLED G S T NUMBER AND TURNOVER. PREVIOUSLY WE DECLARED PROFIT UNDER PRESUMPTIVE BUSINESS PROFIT DECLARING MORE THAN 8%. NOW IF DECLARING THE PROFIT UNDER PRESUMPTIVE BASIS ONCE SHOULD SHOW TURNOVER BOTH PRESUMPTIVE COLUMN AND GST TURNOVER COLUMN,
PLEASE CLARIFY ME,
REGARDS
I HAVE ANOTHER SMALL DOUBT WHILE PREPARING INCOME TAX RETURN FOR TRADERS, LATEST ITR FORM NEED TO BE FILLED G S T NUMBER AND TURNOVER. PREVIOUSLY WE DECLARED PROFIT UNDER PRESUMPTIVE BUSINESS PROFIT DECLARING MORE THAN 8%. NOW IF DECLARING THE PROFIT UNDER PRESUMPTIVE BASIS ONCE SHOULD SHOW TURNOVER BOTH PRESUMPTIVE COLUMN AND GST TURNOVER COLUMN,
PLEASE CLARIFY ME,
REGARDS
22 July 2018
Yes, both columns to be filled in.
22 July 2018
THANK YOUR SIR
REGARDS
REGARDS
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