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Tds deduction

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This query is : Resolved

MANRA (Querist)

23 September 2012 Hi,I joined a company in august and now they are asking for my investment declaration,they said TDS would be deducted from coming month (september salary) how will they calculate TDS? what Investment declaration shud i submit to save tax? Basic-243000,hra-121500,medical-9600,special allow.-150900,medical-15000.total-540000 p.a and 45000 monthly (no deductions).Pls.guide asap.

Rathin Roy

Rathin Roy (Expert)

24 September 2012 You can get deduction us/ 80C (upto Rs. 1,00,000), u/s 80D upto Rs. 15,000 for medical premium paid for yourself and your wife+children and a further upto Rs. 15,000 for medical premium paid for your parents. You can also get deduction from your HRA against any house rent that you may actually be paying, vide sec. 10(13A).
All the above have related conditions to be complied with. The investment copies that your employer would require would be copies of investments made (LIC or medical premium, PPF payments etc.), receipts for house rent payments etc.

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