Income tax

Yes the calculation is correct.  You will need to pay the tax of 1474.  You can either pay the tax online or pay by cheque by depositing the tax amt at your nearest SBI branch.  You will first have to pay this tax & then only file the return

if the 80C amount deduction claim under the second company doesnt in include rs 8237 then the calculation is right otherwise net deduction under 80C will be less and can be calculated accordingly.

hi..

What the difference between Section 10(13a) and Deduction 80GG.

 the persons drawing salary receives HRA , which gets TAX EXEMPTION under section 10 (13A) of Income Tax Act, 1961 read with rule 2A of Income Tax Rules ; the self-employed persons are entitled for TAX DEDUCTION under section 80GG of Income Tax Act, 1961.

NOTE :- the difference between exemption and deduction? Well, exempt portion of HRA is not considered as part of the taxable income whereas in case of deduction first the amount is included in your gross total income (GTI) and afterwards the deduction is allowed.

If the assessee is receiving HRA from his employer then he is eligible for exemption u/s 10(13A).  If he is not receiving HRA then he is eligible for deductino u/s 80GG.  Self employed persons can take deductions u/s 80GG only.

thank you