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Shashikant Singh

80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc...
Hello Sir,
I am a state govt. servant. I want to know under whuch head GIS has to be added. GIS (Group Insurance Scheme) of Rs. 400/- monthly is deducted from my salary by emoloyer.
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Amlan Dutta
If under salary breakup , you mean , you can add it to non exempt portion and under deductions you shall show it under 80 c.... Basically for group saving linked insurance scheme , employees' total contribution, savings as well as risk premium is entitled for income-tax rebate under Sec. 80C of the...
  • Yesterday, 7:26 pm
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ATUL THAKUR

Deduction benefit of NPS...
Sir,

I am working in a nationalised bank. In my form 16,part B, this NPS Contribution mentioned under section 9.A.(c) & 9.B.(b) , as you can see from screenshot,that my 80ccd(1) contribution in section 9.A(c) is shown as Rs 75117, and 80ccd(1B) deduction is Rs 36325 . and deduction under 80ccd2(empl...
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Amlan Dutta
I will not go into extensive explanation , i have already made the subject amply clear in my videos ...in short , you can show 50,000 in 80 CCD(1B) and yes , you can show employer contribution in 80 CCD(2) ...You will get a adjustment notice for variance with form 16 and your return figures shall b...
  • Yesterday, 3:13 pm
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Mohsin Razaq

80CCD(1) - Employee contribution towards NPS...
If one has already used the 150000 limit under PPF category can the contribution by employee be entered under 80CCD(1B) instead of 80CCD(1) and claim additional tax relief to the tune of Rs 5000 on 50000 amount claimed under NPS contribution of employee.
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Amlan Dutta
yes, as per my interpretation , one surely can use 80 CCD(1B) for ones own contribution( employee contribution)...it is totally to the choice of the individual whether to use 80 C or 80 CCD(1B)
  • August 17, 2018
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PARTHA SARATHI MAJEE
Yes absolutely right one of my friend already got the refund by claiming in same circuimstance
  • August 17, 2018
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Gian Naorem

80CCD(2) - Employer contribution towards NPS...
Sir , can I claim employer contribution towards NPS even if my deduction in 80c does not reach 150000???
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Amlan Dutta
Yes and under 80ccd (2)
  • August 9, 2018
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Hemen

80D - Health Insurance premium...
Dear Amlan
Recently I have noticed that in ITR-1 , u/s 80 D is divided into 3 parts out of which premium and preventive health checkup part I know about it. But I have no idea about medical expenditure part. Means condition, limit etc. would you please give a little bit knowledge about it. thanking y...
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Amlan Dutta
That is in addition to medical insurance and limit is 5000 rs for expenses towards preventive medical checkup
  • August 1, 2018
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Bhupendra Singh

80CCD(2) - Employer contribution towards NPS...
Subject: Regarding NPS contribution by the employer

Dear Amlan Ji
I am fortunate to see your videos regarding filing of ITR and I must say that you are doing a noble voluntary work. Thanks for all such efforts.

I have a small query: (Will keep it simple in few lines)

(1) I am a Govt. Employee and along ...
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Amlan Dutta
Income is put under relevant head only ...you cannot show stock gains in House property or business gains under salary ...if you do so charging section itself shall fail and return deemed useless ..there is no way pension qualifies for income from other sources.

Pension i.e (Employer contribution tow...
  • July 31, 2018
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Bhupendra Singh
Dear Amlan Ji

Thanks for your prompt reply. However my query is little bit different. I forgot to attach the image last time. Please find it so that my confusion would be more clear to you as well:

Actually my employer contribution does not reflect in my monthly salary. Moreover in Form 16 (A&B) and a...
Dear Amlan Ji<br /><br />Thanks for your prompt reply. However my query is little bit different. I forgot to attach the image last time. Please find it so that my confusion would be more clear to you as well:<br /><br />Actually my employer contribution does not reflect in my monthly salary. Moreover in Form 16 (A&B) and as well as in 26AS also, it does not get added to make the gross salary (first head of ITR form). However, in Form 16B you can see that the office mentions it (the employer contribution to NPS) for the first time (No. 7: Any other income reported by employee [c] TIER-I, Inst. Const.) then they add it there in the head GROSS TOTAL INCOME.<br /><br />Now my confusion is, while filing ITR, where should I mention it because there is no option like this (refer to the attached image). I doubt whether I should show it as income from other sources. I seriously need your guidance on this. I am open for other informations, if required.<br /><br /><br />Thanks and regards<br />Bhupendra
  • August 2, 2018
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PARDEEP

80 DDB - Senior citizen - Self or dependent...
Thanks in advance sir. You are doing an awesome job.!!!

Sir my father undergone renal operation which is a specified under 80DDB critical illness preocedures. Out of total expenses of 2lacs, 1.6L is paid by my insurer. Can i take exemption on other 40k rupees which i paid for the procedure under 80DD...
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Saurabh pahuja

80CCD(1B) - Employee contribution NPS....
Sir.

I am a govt offcial.
I want some clarification on section 80ccd (1) (b) of income tax act.

I wish to know:

1. I have invested Rs. 1.20 lakhs approx under section 80c and have also invested Rs. 63518 in NPS. Can I claim tax rebate of my deposited amount in NPS under Sec. 80 ccd (1) (b). If yes...
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Amlan Dutta
Yes, you can and by simply putting it under section 80 CCD(1B) ...put 50,000 here since you cannot put more than 50,000 here and balance 13518 i.e 63518 - 50000 =13518 can be used in 80 C ...since you already have 1.4 lakhs credit in 80 C so , you can use 10,000 from excess investment in NPS in 80 C...
  • July 26, 2018
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Hitesh Raj

Deduction benefit of NPS...
How much amount in deduction under 80C
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Vyshnav saikumar
Maximum amount is 1.5 lakhs
  • July 25, 2018
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Neelam Jain

DEDUCTIONS UNDER SECTION 80...
Sir
I HV professional indemnity doctor's policy
Can I take it's tax benefit? If yes under which section? Where to show in itr file?
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Amlan Dutta
There is no tax benefit whatsoever for professional indemnity insurance ........As far as insurance products go , there are only a few cases i.e life and medical for which purchasing a insurance policy has saving benefits linked to it ...for example, medical insurance benefit falls under 80D and l...
  • July 24, 2018
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Vikram Shekhawat

DEDUCTIONS UNDER SECTION 80...
Sir,
Thank you for a wonderful video. Kindly help with the following in ITR4

1. If I get income from Fixed Deposit, shall I add FD income with consultancy income
2. Where can I mention my PPF investment for tax rebate?
3. Where can I mention my house loan? And what from house loan should be entered ...
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Amlan Dutta
Detailed answer follows,

1. If I get income from Fixed Deposit, shall I add FD income with consultancy income.
Yes, it is to be offered under separate income head , income from other sources

2. Where can I mention my PPF investment for tax rebate?
Under 80 C (80 C limit is 1.5 lakhs though)

3. Where can...
  • July 24, 2018
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