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Form 16 figures in itr-1

ITR 351 views 6 replies

Hello,

I have a query in filing ITR-1.

While filing ITR-1 for salary income, we had to take the figure of Point-6 of Form-16, i.e. “Income Chargeable under the head ‘salaries’”

Now, for the A.Y. 2018-19, can we take the figure of Point-3 of Form-16, i.e. “Balance (1-2)”?

If we write this, we can write the amount of Professional Tax in the column of “Deductions u/s 16” if ITR-1, and the balance figure will be Point-16 of Form-16.

Can we fill the details in above manner? Kindly advise.

Thanks.

Replies (6)

Yes, correct......

Additionally, you have to declare deductions u/s. 10 as per point 2....... in 'Exempt income' column.

Should we mention Rs 19,200 conveyance allowance in Exempt income row by selecting Any Other in dropdown?

 

Yes.... We have to ......

In the following instructions of ITR1 filling, there is no mention of showing Rs 19200 exempt conveyance allowance.

https://economictimes.indiatimes.com/wealth/tax/how-to-fill-salary-details-in-itr-1-for-fy-2017-18/articleshow/64381168.cms

Is Conveyance Allowance of Rs 19,200 to be shown for only ITR2 filers and not ITR1 filer?

I have a query regarding Form 16 TDS figures.

Our company deducts the TDS of entire year in 4 to 5 months of salary.

In the Form 16, the column of “Amount Paid / Credited” shows the figure of 4 or 5 months of salary only, and the tax deducted for entire year.

 For example, if the salary is Rs. 35,000 per month, then the Form 16 shows the figure of Rs. 1,40,000 as amount paid / credited, and Rs 8500 in the column of “Amount of Tax Deducted”.

Now, while filing ITR-1, in the Part-18 of TDS1, whether we should write Rs. 1,40,000 or Rs. 4,20,000 in the cell of “Income Chargeable under Salaries”.

Kindly advise.

Thanks.

In TDS1 section, you may write as per form 16  i.e. 1,40,000/-

But in the computation you have to declare total salary amount...


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