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Deductions from salary in Income tax return

Murali Rotti Sathyanarayana (Manager of Accounts) (165 Points)

29 July 2023

There is a component of transport allowance of 19K and medical allowance of 15K in CTC breakup.can we claim this in IT returns even after claiming standard deduction of 50K ?

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12 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 29 July 2023

Yes., You can claim.

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Murali Rotti Sathyanarayana (Manager of Accounts) (165 Points)
Replied 29 July 2023

Thank you

emmei rather (8 Points)
Replied 29 July 2023

Hello

I have a few queries please. I come under new tax-regime. And professional tax of 2400 Rs is not shown in the Form-16.

Also my Employer had by mistake mentioned more Gross Salary, which they have rectified today, but the professional field tax is still missing in the new FORM-16, which they shared with me.

Also, how much time will it take for the new Form-16 details to upload in the Tax Portal, Currently it still shows the wrong Gross Salary?

Murali Rotti Sathyanarayana (Manager of Accounts) (165 Points)
Replied 29 July 2023

Professional tax is not allowable deduction in new tax regime..if you feel Form 26AS is correct by now, you can proceed with your return filing, no need to wait for Form 16 , so you fulfill the responsibility of filing return of income before due date and avoid late filing penalty of 5K as applicable..

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emmei rather (8 Points)
Replied 30 July 2023

Thanks a lot for your reply.

Actually, My Employer shared a new Form-16 with me today after I highlighted the issue of wrong Gross Salary being mentioned in Form-16 a few days ago.

But when I opened the ITR portal, It still sows the same old Gross Salary.
The only issue is, I have paid my full taxes, but portal is still showing around 3k is pending from my side.

Though I got a new FORM-16, but it has not reflected yet. And the Gross amount is still the old one.

Shall I wait for my new Form-16 details to update on the portal, or can I edit the pre-filled details as per the new Form-16 which I have received.

Thank you so much again

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Murali Rotti Sathyanarayana (Manager of Accounts) (165 Points)
Replied 30 July 2023

You can file based on new Form 16 received but do not everify now...you have time of 30 days to complete everification from the date of submission of returns..Keep watching once in two days in 26AS whether new numbers are updated, once it is done you can everify quickly..but ensure accordingly

1 Like

sabyasachi mukherjee (27574 Points)
Replied 30 July 2023

There are a few sections.

emmei rather (8 Points)
Replied 30 July 2023

Thank you so much @ Murali Rotti Sathyanaraya Ji.

Can I edit the new Gross Amount based on the new Form-16 in the ITR portal? Would it be a right thing to do?

I just validated the new Form-16 Certificate from traces portal based on the Certificate number, TAN, etc details and it says that the Form-16 is Valid.

So, Can I make the edits in the ITR Gross Salary in the website itself, so that correct information is submitted while filing my ITR?

Murali Rotti Sathyanarayana (Manager of Accounts) (165 Points)
Replied 30 July 2023

Yes you can do @ emmei rather

emmei rather (8 Points)
Replied 30 July 2023

Thanks a lot. Really means a lot. God bless you.

My Employer just messaged me. He is suggesting me to file the ITR from cleartax? As per him it is safe. I may have to upload my revised Form-16?

What do you suggest please. Shall I go with the edit option or with filing from cleartax?

Thanks again