Tds deduction
This query is : Resolved
23 September 2012
Hi,I joined a company in august and now they are asking for my investment declaration,they said TDS would be deducted from coming month (september salary) how will they calculate TDS? what Investment declaration shud i submit to save tax? Basic-243000,hra-121500,medical-9600,special allow.-150900,medical-15000.total-540000 p.a and 45000 monthly (no deductions).Pls.guide asap.
Rathin Roy
(Expert)
24 September 2012
You can get deduction us/ 80C (upto Rs. 1,00,000), u/s 80D upto Rs. 15,000 for medical premium paid for yourself and your wife+children and a further upto Rs. 15,000 for medical premium paid for your parents. You can also get deduction from your HRA against any house rent that you may actually be paying, vide sec. 10(13A).
All the above have related conditions to be complied with. The investment copies that your employer would require would be copies of investments made (LIC or medical premium, PPF payments etc.), receipts for house rent payments etc.
All the above have related conditions to be complied with. The investment copies that your employer would require would be copies of investments made (LIC or medical premium, PPF payments etc.), receipts for house rent payments etc.
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
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Employee secondment
- GSTR9 Annual Return
- Rent agreement of House of deceased person
- Capital gain on commercial property and investment in residential property
- Rectification under processing even after 6 months cpc portal
- Gift to nri relatives resides in usa
- Form 144 TDS Return Validation error
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- 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
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- 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
