24q preparation in rpu

TDS 554 views 2 replies

bhopen

MBA

104 Points Joined September 2015

Salary details of an employye is given as follows:-

Total Gross sallary = Rs. 520443

Deduction under Section 10:

SCA=Rs. 9000

TA=Rs. 9600

Gross salary =rs. 501843

Professional tax= Rs. 2500

Gross Income= Rs. 499343

Deduction under 80C= Rs. 95256

Net Income=Rs. 404087

TDS deducted=Rs. 15409.

My question is

1) Which one will be the amount paid/credited in Annexture I of 24Q?

2 Which one will be Gross amount in Annexture II of 24Q?

Please explain clearly.

Replies (2)

1. Rs. 520443 is amount paid/credited for annexure I. It is every month gross salary before any deductions/allowances.
2. Rs. 499343 is gross total income after claiming deduction u/s 10 & 16 but it must be total income for entire financial year & not monthly income, for annexure II.

bhopen

MBA

104 Points Joined September 2015

Please refer RPU version 2.0 and check Annexture I & II. I think Salary details including professional tax must be furnish in Annexure II. I see only taxable income is furnished in Annexure I in some video tutioral found in youtube. If I am wrong, please correct me.