Dear Madame / Sir,
I required some advice Suppose an employee works for a company, and earns a salary of Rs.25,000/- per month. However, the employer does not issue Form 16 & does not deduct TDS @ 10% for salary. This amount not reflected in my 26 AS.
Salary Structural Basic - 10000
HRA - 5000
Conveyance - 1600
Med. Reimd. - 2080
Project/other Allowance - 6320
Gross Salary 25000
I am filling income tax return, can I claim Conveyance allowance exempt =1600X12 =19200.
Can I claim Medical Reimbursement up to 15000.
Income Tax Computations F.Y. 2016-17
Gross Salary : 25000 X 12 = 3,00,000
Exemptions U/s 10
Conveyance Allowance -19,200
Medical Reimbursement - 15,000
Net taxable income = 2,65,800
Income Tax 15800 X 10% = 1580
Education Cess 1580 X 3% = 48
Total Tax = 1628
Less – Rebate up to 5000 = 1628
Tax Payable = Nil
Please guide me- am i right
CAclubindia
