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FATEH CHAND CHOUHAN

Category : 80CCD(1)..,
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July 13, 2018 7:49 pm
  • 80CCD(1) - Employee contribution towards NPS
मेरी 2018-19 AY की Gross salary 866437 है
NPS कटौती कुल 94730 है
System calculated में 80CCD(1)&(2) में 86644 ही आ रही है।
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AYUSH
Hello fateh Employee’s contribution – Section 80CCD (1) is allowed to an individual who makes deposits to his/her pension account. Maximum deduction allowed is 10% of salary (in case the taxpayer is an employee) or 20% of gross total income (in case the taxpayer being self-employed) or Rs 1, 50,000,...
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  • July 13, 2018
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Amlan Dutta
Yes, true for salaried employees, under 80 CCD(1) maximum deduction allowed is:
up to 10% of salary for salaried employee

But 80 CCD(1B) provides additional deduction of Rs. 50,000 for contribution made by an assessee under NPS. Put balance there .....

Note: The maximum deduction as an aggregate of sec...
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  • July 13, 2018
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Lokesh Jangid

Category : Exempt I..,
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July 13, 2018 7:32 pm
  • Exempt Income
Amlan Dutta Sir This is the right way to show exempt income which I received from my mother.
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Amlan Dutta
This appears to be correct to me ..as mentioned by ayush, good to show as exempt using section number i.e 56(2)
  • July 13, 2018
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Lokesh Jangid
Thanks Ayush and Amlan Dutta
  • July 13, 2018
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jignesh

Category : Exempt H..,
Solved
July 13, 2018 7:20 pm
  • Exempt HRA when not shown in Form 16
hello sir,

i have form-16 received from employer
details as under allowance exempt u/s 10 a) RENT 5000

but actually i have paid monthly rent 6000*12=72000 then i can allowance more in ITR-1 file.

form16 attached for reference

maine 6000*12=72000 actual rent paid kiya hai lekin employer ne 500...
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Amlan Dutta
You can claim eligible HRA and show at the time of filing return ..but exempt HRA is not directly rent

Know how to compute exempt HRA first ...it is least of
1.) HRA received
2.) Rent paid over 10 % of salary
3.) 50 % of salary in Delhi ,.chennai, kolkatta, Mumbai ( 40 "% in other cities )
(Salary m...
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  • July 13, 2018
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Sumit Hedaoo

Category : 80EE - I..,
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July 13, 2018 5:36 pm
  • 80EE - Interest on loan taken for residential House property
Hello Amlan,
i have purchased a under construction property in 2017. home loan started from April 2017 but possession in October 2018.
Can i file interest or principal for this property in current Assessment year? i am having a joint homeloan with my wife and last year i have paid interest of around...
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AYUSH
Hello sumit Section 80EE allows tax benefits for first time home buyers. Income tax deduction can be claimed on home loan interest towards your first house property. The deduction allowed under this section is for interest paid on home loan up to maximum Rs 50,000 per financial year. You can contin...
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  • July 13, 2018
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Amlan Dutta
Till the construction is complete , normal deduction benefit under section 24(b) till 2 lakhs wont be allowed ...so in the construction years , given you qualify for 80 EE , you can claim 50,000 rs and further 50,000 rs next year ( maximum eligible benefit is 1 lakh)....then wait till posession is g...
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  • July 14, 2018
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