31 May 2012
We have a common Director in two of our related companies. Now for preparing Form 16, whether we have to show the details of deduction u/s 80C/D, for the payment made by Director in both the companies Form No. 16 or only in any one of the company.
For Eg :
SAlary from Co. A : 540000/- SAlary from Co. B : 540000/-
LIC : 85000 PPF : 5000
Now for preparing Form 16, Deduction u/s 80C of Rs. 90000/- would be for the companies or only in single company.