TDS ON SALARIES

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This discussion clarifies how Tax Deducted at Source (TDS) on salaries is calculated, specifically focusing on deductions under Section 80D. It addresses queries about claiming medical insurance premiums, including how to account for multi-year policies and whether to include GST when calculating the deductible amount. The aim is to provide guidance on the correct provisions and notifications for these tax matters.

K BHEEMA REDDY

K BHEEMA REDDY (Querist)
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11 March 2020 Dear sir,
I have one doubt regarding Deduction U/s 80D.
As per income tax act TDS on salaries will be calculated on Estimated basis/actual basis.
At the time of calculation of TDS some of employees are submitted medical insurance premium payment Receipts for 2 years for Rs 86000 including parents (Ex:01-04-2019 to 31-03-2021).
But at the time of calculation of total income of employee,what amount should be considered for deduction u/s 80D.
whether we take deduction of Rs.50000(25000 self+25000 parents) or (86000/2=43000 because policy applicable for 2 years i.e 21500 self+21500). please tell me the Relevant Provision or Notification.

Thanks in advance,
Regards,
Bheema Reddy.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 March 2020 43,000. Inference :- 80D(4A) explanation (i).

Message likes : 1 times

K BHEEMA REDDY

K BHEEMA REDDY (Querist)
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13 March 2020 THANK U VERY MUCH SIR.

K BHEEMA REDDY

K BHEEMA REDDY (Querist)
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27 August 2020 Dear sir,
i have one doubt,
while claiming 80D deduction or 80C deduction only premiums considered or premium+GST considered.
Please tell me the Relevant Provision or Notification.

Thanks in advance,
Regards,
Bheema Reddy.

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