Tds against salary

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2015 Hi., I am siva. Recently, I have resigned in a company. I need to submit proofs against income tax declaration in my previous company.Now my query is that "can pf deducted by my new employer be considered one of the eligible investments for the declaration made in previous co??

My logic is it is covered under 80c and moreover I have proofs. Pl clarify at the earliest. If you don't understand the question, pl give me a ring @09951073622

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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04 February 2015 yes it is allowed as deduction if it is deducted by ur employer.

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2015 Thanks. TUSHAR. Let me see how other prof colleques will resolve this??

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CA Deven

CA Deven (Expert)
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04 February 2015 SIVA ,

WHY SO CONFUSED SIMPLE LOGIC FOR PF IS EMPLOYEES CONTRIBUTION UNDER PF IS ALLOWED AS DEDN UNDER 80C...YOU JUST NEED TO SUBMIT IT TO YOUR NEW EMPLOYER

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2015 Thanks., Mr. Deven.Its the issue with my ex-boss. I will clearly explain the issue. I have relieved from my ex-employer on 5/1/2015, where I have declared few investments. Now they are asking proofs. They don't want to consider pf with my new employer as eligible invt. Can you give your no??? So that I will clearly explain you the problem???

CA Deven

CA Deven (Expert)
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04 February 2015 MY FRIEND HOW CAN YOU SUBMIT PF DEDUCTED BY NEW EMPLOYER TO YOUR OLD EMPLOYER..PF DEDUCTED BY NEW EMPLOYER WILL BE TAKEN CARE OF BY NEW EMPLOYER

CA Deven

CA Deven (Expert)
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04 February 2015 SEE PF DEDCTED FROM YOUR SALARY ONLY AND ONLY WILL BE ALLOWED AS DEDUCTION AND THAT TOO WHAT THEY HAVE DEDUCTED DURING THE TENURE OF YOUR SERVICE.

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2015 My logic is it is one of the eligible investments under 80c. At the time of TDS out of salary, eligible investments should be considered based on proof of investment. I have proof of investment, so what's wrong in considering this???

Any way, thanks for your time dude..., Pl think once again and let me know

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CA Deven

CA Deven (Expert)
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04 February 2015 PF IS YOUR INVESTMENT I AGREE BUT THE CONTRIBUTION FROM YOUR SALARY WILL BE THE AMOUNT OR YOU CAN SAY PORTION OF YOUR INVESTMENT YOU CAN CLAIM AS DEDUCTION FROM YOUR INVESTMENT..LIKE IF YOUR INVESTMENT IS WORTH RS. 100 OF WHICH YOUR CONTRIBUTION OF 40 ONLY WILL BE ALLOWED