Form 16

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Please clarify my query :

My employer issued me form 16 in which at column Gross Salary my ctc was mentioned as Rs.4,19,404/- whereas my ctc is Rs.4,80,000/-.

My  per month salary break up is as follows:

Basic is Rs.16000/-

Other Allowance is Rs.10567/-

Conveyance Allowance is Rs.800/-

HRA is Rs.6400/-

Education Allowance is Rs.200/-

Medical Reimbursement is Rs.1250/-

Deductions:

Income Tax  as shown in the column of  "Tax Deducted in respect of Deductee" by Employer  in form 16 is Rs.1565/-

Professional Tax for the year from april 12 to march, 2013 is Rs.2400/-

Mediclaim or the year from april 12 to march, 2013 is Rs.2800/-

Deduction for food from april 12 to march, 2013 is Rs.330/-

Other details:

I have received net salary from April, 2012 to 31 March, 2013 is Rs.4,20,430.33 paise as per my payslip.

My Payslips shows my Net salary from April, 2012 to 31 March, 2013 is Rs.4,12,892/-

No pf deduction.

Not received my LTA  (Joined the organization on 2nd of April, 2012)

My gross salary as per my pay slip from (April, 2012 to 31st March, 2013) is Rs.4,19,354.33

I was on authorised absent for 3 days during my probation period.

My questions are  (1) whether form 16 issued to me is correctly showing my Gross Salary as Rs.4,19,404/- or it should have been Rs.4,80,000/- (which is my ctc). 

My another question is whether I can file returns  ( last date is 31st July, 2013) showing my  2) ex-gratia to be paid by my employer in October 2013  3) LTA  amount to be paid by my employer in August, 2013. 4) What to do for reflecting Rs.4,80,000/- in Form 16 issued by my employer for the AY2013-14.

 Please help me in answering my query.  

 

Pl. do the needful.

Thanks and Regards,

gtrrao.

 
Replies (1)

Dear Mr. Rao,

Normally, CTC differs from the Gross Salary as per IT. It is because there may be some receipts which may not be taxable in your hands. To attend your query specifically, please provide the detail of CTC mentioning what you have received during the last year. Meanwhile, you may file your ITR by 31st July based on your form 16.

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