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Income from salary

ITR 525 views 1 replies

Rahul Rajpal

MBA

28 Points Joined October 2012

Mr. A is recieving a in hand salary of Rs. 15000/- p.m. including basic, HRA, medical all., Conveyance, Personal all.

Other details as below -

PF Contribution (Employee) - 780/-

PF Contribution (Employer) - 780/-

Gratuity - Rs. 399/-.

What is total income from salary for IT return.

Please advice.

Replies (1)

Giridhar S Karandikar

Team Lead

7558 Points Joined November 2011

In-hand salary would be 15980(15000+780+200) Inhand salary, PF of employee & PT. He would not be required to file the IT Return as his income(191760) is below the exemption limit of Rs 200000 without giving effect of Chapter VI-A deductions. However if there is any other income then he would be liable to file the return if the incoem crosses Rs 200000 inclisuve of the other income & after giving deductions udner Chapter VI-A