27 January 2014
Greeting to all, In 24Q one col. is "Amount Paid/Credited". I want to know how this amount will be calculated. as per me below should be formula Gross earning for the month Add :- Taxable Perquisites for the month Less :- Exemption (Edu. Hostle, Conveyance etc.) for the month Balance amount will be taxable amount.
27 January 2014
Dear sir, Amount on which TDS is deucted is derived after given deduction u/s. 80C,CCG, D,DD,E,EE etc. as well as ded. u/s. 24b. But 24Q ask about the taxable salary not the Total Income. Pls. submit your views.
Pl note yo have to mention Net Taxable salary on which TDS deducted since you will be mentioning the same amount in Q4, if you mention Gross Amt before such deduction then you will receive notice from TRACES since they consider higher of income reported in Anx1 of Q1 to Q4 or Anxx2.
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