29 January 2011
Can any body tell me how to account for the amounts given as under for calculating incometax for individual
Education loan repayment 35,000 int.+ 60000 principal Medical expenses incurred for parents 18000/- Whether these amounts are included in total savings of Rs. 1.00 lac or interest amount is to deducted from gross income ? How to account for these amounts ? As a employer whether I should deduct these amoaunts from gross income or not ? Excluding total savings of Rs. 1.00 lac Please clarify Korhalkar
CAclubindia
