Section related
This query is : Resolved
13 November 2013
Section 7 deals with "Income deemed to be received"
.
Cases covered u/s 7 are related with annual accretion, transferred balance, and contribution to pension funds by the employer as referred in Section U/s 80CCD.
.
Though the income is not received by the assessee-employee, yet it is credited to his account and the amount so credited is deemed as if received (for taxation purpose).
.
Cases covered u/s 7 are related with annual accretion, transferred balance, and contribution to pension funds by the employer as referred in Section U/s 80CCD.
.
Though the income is not received by the assessee-employee, yet it is credited to his account and the amount so credited is deemed as if received (for taxation purpose).
Message likes :
1 times
14 November 2013
when that amount in hands of employee for tax pupose to deduct that u/s 80CCD?
14 November 2013
The query is not clear. Still try to find the answer from the following information.
.
U/s 80CCD an employee gets benefit if he contributes upto 10 % of his Salary (Basic +DA in terms of employment) to the notified pension scheme.
.
His employer can also contribute 10%. Any excess contribution made by the employer is taxable by virtue of Section 7.
.
.
U/s 80CCD an employee gets benefit if he contributes upto 10 % of his Salary (Basic +DA in terms of employment) to the notified pension scheme.
.
His employer can also contribute 10%. Any excess contribution made by the employer is taxable by virtue of Section 7.
.
Message likes :
1 times
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
- CLOSING STOCK QUERY
- Missed TDS
- ITR 44AD SECTION
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Loss of interest in PF transfer from EPFO to Trust
- TDS on rent received on hardship compensation being rent on redevelopment of building
- NRI INSURANCE ADVISOR
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Residential status of non resident
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
