TDS ON SALARIES
This query is : Resolved
11 March 2020
Dear sir,
I have one doubt regarding Deduction U/s 80D.
As per income tax act TDS on salaries will be calculated on Estimated basis/actual basis.
At the time of calculation of TDS some of employees are submitted medical insurance premium payment Receipts for 2 years for Rs 86000 including parents (Ex:01-04-2019 to 31-03-2021).
But at the time of calculation of total income of employee,what amount should be considered for deduction u/s 80D.
whether we take deduction of Rs.50000(25000 self+25000 parents) or (86000/2=43000 because policy applicable for 2 years i.e 21500 self+21500). please tell me the Relevant Provision or Notification.
Thanks in advance,
Regards,
Bheema Reddy.
I have one doubt regarding Deduction U/s 80D.
As per income tax act TDS on salaries will be calculated on Estimated basis/actual basis.
At the time of calculation of TDS some of employees are submitted medical insurance premium payment Receipts for 2 years for Rs 86000 including parents (Ex:01-04-2019 to 31-03-2021).
But at the time of calculation of total income of employee,what amount should be considered for deduction u/s 80D.
whether we take deduction of Rs.50000(25000 self+25000 parents) or (86000/2=43000 because policy applicable for 2 years i.e 21500 self+21500). please tell me the Relevant Provision or Notification.
Thanks in advance,
Regards,
Bheema Reddy.
11 March 2020
43,000. Inference :- 80D(4A) explanation (i).
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13 March 2020
THANK U VERY MUCH SIR.
27 August 2020
Dear sir,
i have one doubt,
while claiming 80D deduction or 80C deduction only premiums considered or premium+GST considered.
Please tell me the Relevant Provision or Notification.
Thanks in advance,
Regards,
Bheema Reddy.
i have one doubt,
while claiming 80D deduction or 80C deduction only premiums considered or premium+GST considered.
Please tell me the Relevant Provision or Notification.
Thanks in advance,
Regards,
Bheema Reddy.
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