TDS ON SALARIES

This query is : Resolved

K BHEEMA REDDY (Querist)
Follow

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)
Follow

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

Message likes : 1 times

K BHEEMA REDDY

K BHEEMA REDDY (Querist)
Follow

13 March 2020 THANK U VERY MUCH SIR.

K BHEEMA REDDY

K BHEEMA REDDY (Querist)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now