How can i show Professional tax deductions in ITR2.
there is a column stating professional tax deduction. put it there
there is no such option..you have to always state it net-off prof tax..
No such column you have net off with gross.
No such column you have net off with gross.
Is it necessary to fill up P/L A/c and Schedule for Business income in ITR - 4 if any person having
deemed income u/s 44AD or 44AE or 44AF or 44BB or 44BBB ?
| Originally posted by :Dmohansrj | ||
| " | How can i show Professional tax deductions in ITR2. | " |
u should direct deduct prof. tax from basic salar
Is any deductions allowed for repayment of Personal Loan.
Is it necessary to keep all attachments for ITR forms?
Under IT Act, 1961, no deduction is allowed on repayment of Personal Loan. There is scope of deduction on Educational and Housing Loans.
Dmohansrj, R. Suresh is right in this context. There is no column as such for this purpose.
| Originally posted by :Dmohansrj | ||
| " | Is any deductions allowed for repayment of Personal Loan. | " |
No deduction on personal loan repayment is allowable- Section 37 of IT Act, you must read its 4 conditions. Only House lan repayment is eligible deduction u/s 80C.
| Originally posted by :Naina | ||
| " | Under IT Act, 1961, no deduction is allowed on repayment of Personal Loan. There is scope of deduction on Educational and Housing Loans. | " |
Naina On educational loan repayment of loan is not eligible for deduction only interest on such loan is eligible deduction u/s 80E.
Your are not logged in . Please login to post replies
Click here to Login / Register
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
View DetailsIndia's largest network for
finance professionals