Ad-Free CAclubindia and daily updates on your mobile. Subscribe Now!

Income tax query

Amod Ranjan (Service) (356 Points)

06 January 2014

One of my friend working in a Pvt. Ltd. company and his company not accepting declaration for HRA & 80c.

he is paying lots of tax amount due to not sbmitting declaration so can he mention his HRA & 80c in ITR and claim the refund?

Please advice.

Reply
Follow
Share

5 Replies

CA and CMA Ravinder Singh (CA and CMA) (853 Points)
Replied 06 January 2014

The company is acting on the safe side.....dont worry, the excess tds deducted by the company can be claimed in ITR by claiming hra and 80 c deduction in the ITR.....

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Mihir (Wealth Manager) (5293 Points)
Replied 07 January 2014

Company may reduce TDS deduction from salary after receiving declaration from the employee giving details of his/her investments u/s 80C.

Anubhav Jain (CA Practice ) (31 Points)
Replied 07 January 2014

Company should accept declaration for claiming HRA and 80 C . In case the same is not being done, the employee may deduct the same in his individual ITR and claim the benefit.

umar jan (finance astt) (21 Points)
Replied 16 March 2014

Kindly specify the disease whose expenses can be deducted from salary for income tax purpose?

Is tution fee of childern also deductible for income tax purpose?

Interest on Education Loan of child?

nandita agarwal (0) (22 Points)
Replied 16 March 2014

what is the tax implication in the hands of X ltd..

x ltd is a USA based co provided technical knowhow in manufacturing process to an indian co. in lieu of which it received the following- Intrest on 8% debenture of Rs.50 lacs issued by indian co.