With respect to ITR1 filing, request a Clarity on section 14(i) & 14(ii). In which case would one claim any amount under these clauses?
thanks
Menu
Clarity on section 14(i) & 14(ii)
Replies (3)
taxmanagementindia.com/detail_manual.asp?ID=869
One is based on fixed amount exemption
the other is based on the amount of expense actually incurred
the other is based on the amount of expense actually incurred
I am a salaried employee. I had initially filed ITR1 and there no refunds or anything to claim vis-a-vis my Form 16. My tax paid is in the range of 5L. However, a CA who is known to me, suggested a clause under 10(14)(i) &(ii) can help me get a refund of around 2L. He is claiming that these clauses allow for considering tax exemption owing to the cost inflation index. How is this possible?
Recent Topic
- Due date of ITR for Option Trader
- Cancelled invoice entry
- Debt Mutual Fund Tax in New Regime
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
Related Topics
CAclubindia
