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24q preparation in rpu

590 views 2 replies

bhopen

MBA

104 Points Posted on 07 September 2017

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)

ANIL RAMDURG

ACA

36 Points Posted on 07 September 2017

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 Posted on 07 September 2017

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.