while preparing ITR-1 for the A. Y. 2019-20.in form 16, there are two allowance u/s 10 which are exempt. then in ITR 1, in drop down list of exempt allowances, these names are not shown, then how i show these allowance.. please suggest
1.medical allowance
2.Conveyance allowance
Menu
allowance u/s 10
Replies (1)
Deduction by employer for AY 2019-20 are wrongly treated. Try to deduct the same under standard deduction. i.e u/s. 16(1a) of the act.
W.e.f. Assessment year 2019-20, the standard deduction is allowed while computing income chargeable under the head salaries. It is available to all class of employees irrespective of the nature of employer. Amount of Standard Deduction is Rs. 40,000 or amount of salary/pension, whichever is lower.
Recent Topics :
- Private limited tax audit
- LTCG - SEC54
- Foreign remittance from our client for Co Working
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
Related Topics :
CAclubindia
