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Employer Contribution of PF @12% included in form 16

ITR 4598 views 3 replies

Dear Sir,

Form 16 issued by the Employer (A Govt of India Undertaking) included PF Contribution @ 12% as income hence Tax deducted on same,details of Pay slip is as follows :-

Income Side

Basic Rs-59,350/-

DA Rs- 5,935/-

PF @ 12% (On Basic and DA) Rs 7,834/-

Total (59350+5935+7837) X 12 = 8,77,464 /- (Form 16 also shows Rs 8,77,464/-

Deduction side

PF  Rs-7,834/-

7834 X 12= 94008/-

So my query is Total Income will be 8,77,464

OR

8,77,464-94008=7,83,456 if yes how to show this figure (7,83,456/- ) in ITR because Form 16 is showing Rs 8,77,464/-  

Thanx with Regards


Attached File : 3170892 20200825090426 forum case.xlsx downloaded: 92 times
Replies (3)
Contribution to pf is deductible Under section 80c. so in the column against income from salary show rs. 877464. claim the pf deducted including employer's contribution up-to an extent of rs. 1.5 lakhs and show the balance amount as total income. generally employer's contribution towards pf shouldn't be included in salary
Originally posted by : V Vijay Narayan Rao
Dear Sir,

Form 16 issued by the Employer (A Govt of India Undertaking) included PF Contribution @ 12% as income hence Tax deducted on same,details of Pay slip is as follows :-

Income Side

Basic Rs-59,350/-

DA Rs- 5,935/-

PF @ 12% (On Basic and DA) Rs 7,834/-

Total (59350+5935+7837) X 12 = 8,77,464 /- (Form 16 also shows Rs 8,77,464/-

Deduction side

PF  Rs-7,834/-

7834 X 12= 94008/-

So my query is Total Income will be 8,77,464

OR

8,77,464-94008=7,83,456 if yes how to show this figure (7,83,456/- ) in ITR because Form 16 is showing Rs 8,77,464/-  

Thanx with Regards

Dear Rao Ji

 

First show full amount and hereafter claim deduction of PF under section 80C

But Sir Employer is treating his PF Contribution as Income and deducing TDS on PF also


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