31 July 2010
For the F.Y.2008-09 my gross salary was Rs.1,80,000 my employer deducted Rs.2,500 towards the professional tax and Rs.24,000 was eligible as a deduction as per the provisions of the I.T. Act. So my net salary was Rs.153500.
now my question is while preparing the ITR-1 what amount is to be shown in the column income chargeable under the head salary, the net salary of Rs.1,53,500 or the total salary of Rs.1,80,000(in such case at which place in the ITR-1 i can claim the deduction of P.T. and HRA)
31 July 2010
Sir Rs.24,000/- was not TDS, it was the amount of HRA. As my taxable income was below the exemption limit so my employer not deducted the TDS.
CAclubindia
