Employer Contribution of PF @12% included in form 16

ITR Filing 4692 views 3 replies

V Vijay Narayan Rao

Pensioner

28 Points Posted on 25 August 2020

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

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: 96 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

Ravi SADhiyan

Practice

4510 Points Posted on 25 August 2020

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