One of my friend working in a Pvt. Ltd. company and his company not accepting declaration for HRA & 80c.
he is paying lots of tax amount due to not sbmitting declaration so can he mention his HRA & 80c in ITR and claim the refund?
Please advice.
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Income tax query
Replies (5)
The company is acting on the safe side.....dont worry, the excess tds deducted by the company can be claimed in ITR by claiming hra and 80 c deduction in the ITR.....
Company may reduce TDS deduction from salary after receiving declaration from the employee giving details of his/her investments u/s 80C.
Company should accept declaration for claiming HRA and 80 C . In case the same is not being done, the employee may deduct the same in his individual ITR and claim the benefit.
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what is the tax implication in the hands of X ltd..
x ltd is a USA based co provided technical knowhow in manufacturing process to an indian co. in lieu of which it received the following- Intrest on 8% debenture of Rs.50 lacs issued by indian co.
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