The income mentioned under 'Amount Paid/Credited' in part A of form16 is not same as 'Total income' mentioned in part B of form 16. But the tax amount is same in both part A and part B.
Should both be same or in what case it could differ?
4 Replies
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 03 August 2016
Section 10 exemptions like HRA,Conveyance,medical etc and 80C deductions like PF,PPF,LIC,Housing loan etc and some other deductions will not be considered in form 16 -Part-A though tax implication is same.So you can proceed for filing
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 03 August 2016
However few companies are preparing form 16 in such a way that Part -A income and either of gross or net of Part-B is equal to Part-A.It is happening in practice
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 03 August 2016
Its okay you can proceed with what is given, consider figure after deductions as in partB
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 25 February 2020
This may not occur now since , you can just proceed through prefill ITR
Recent Topics
- Tyres purchased ITC clime?
- LUT Number on Invoices
- HSN Summary B2B and B2C
- DRC-01 Demand Notice for filing GSTR-9 Wrongly
- Income Tax for freelancing services
- Income Tax Return Filing Reg
- DRC 03 payment method
- GST Registration for Service Providers
- Tax for individual freelancing service providers
- LUT Number confusion! ARN or Reference Number
Related Threads
CAclubindia
