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Income tax return of salary urgent

Tax queries 604 views 7 replies

R. vishwanathan

SENIOR ACCOUNTANT

241 Points Posted on 26 July 2014

Please urgent

there is assessee whose income is from salary only and there is deduction of

1 general provident fund of 84000

2 gis of rs 2400

in which head of 80 c it is to be included to get deduction ..

is it statutory fund or something else.

Replies (7)

Pakshal Shah

Practicing Chartered Accountant

271 Points Posted on 26 July 2014

General provident fund (if it is a recognized fund) then you can claim it as investment in public provident fund. About GIS.. is it an abbrevation or so?

R. vishwanathan

SENIOR ACCOUNTANT

241 Points Posted on 26 July 2014

why not in statutory provident fund. ?

yes its a abbreviation..dont knw its full form. ?

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Posted on 26 July 2014

GIS stands for Group Insurance Scheme.... why do you need to categorise it, just give it under "provident fund" group.... and for gis, either create a new group named "GIS" or under "others".

R. vishwanathan

SENIOR ACCOUNTANT

241 Points Posted on 26 July 2014

actually i am using software for itr and under 80c there is only 7 to 10 heads and we cannot create new one.

Tribhuvan Aditya Singh

Student as well as Self-employed

3710 Points Posted on 26 July 2014

in the act itself there are more than 15 heads under which deduction of 80c can be claimed, then how is it possible to group under only 10 head... but if you say so, then try giving all data under "others" if you dont find any appropriate head.