04 August 2016
Kindly help me to calculate income tax on salary
Salary-Rs.159928 Leave encashment-301770 arrears-624153 pli-24791 pension 291402 Total-1402044 deductions transport allowance 1600,professionaltax-1250, leave encashment 300000, 80c-150000, mediclaim15000 (total deduction 502586) tds-109562. I don't know how to calculate tax and where to show the tax on deductions like transport allowance,prof tax,leave encashment. Is it in 89(1) relief. what will be the relief under 89(1).is there a refund of Rs.6670? Kindly help me Thank in advance.
04 August 2016
Relief U/S 89(1) will be determined after filling Form 10 E.Better you ask your previous employer to get everything you want to do & get Form 16 & file return on that basis.
CAclubindia
