Save Rs 499. Go Ad-Free with CAclubindia Pro for 2 Full Years. Subscribe Now!

Itr: what should be my income chargeable under salaries

3281 views 2 replies

abhishek sharma

128 Points Posted on 21 August 2015

Hi,

I need your help.

According to form26As my total amount paid/creditedby my employer is: 796309

I am filling up TDS section of ITR2.

1) My salary excluding all allowances and perks is: 749384

2) Perks were not paid in cash and its value is: 10049

3) total allowances: 46925

So, Income chargeable under head salaries is: 749384 + 10049 = 759433

Now, in the form26AS my total amount paid/credited is: 749384 + 46925 = 796309(as perks were not paid in cash so they are not included here)

Now my question is that when I am filling up schedule TDS of ITR2, what should I show as income chargeable under salaries?

Please reply.

Regards,

Abhishek

Replies (2)

CMA Poornima Madhava

CMA

13117 Points Posted on 21 August 2015

U need to fill up the value that is mentioned in form 16 under income from salaries.

If salary mentioned in Form 16 is less than actually paid. Then the fig actually paid needs to be given. But if Form 16 shows more than what you actually got then you shud point it to ur employer or take form16 fig in ITR.

In case of bank employees and many more org if TDs is cut for eight months CA file TDS return with sal for eight months only. Even if TDS is zero TDS return should report correct 12 months salary.