N V Ram (Manager) (272 Points)
25 May 2009Pl. let me know what should be included in 1(a) - Salary u/s 17(1) and 1(b) - Perquisite u/s 17(2) of Form 16
Whether HRA, Conveyance, Other Fixed allowances gets covered under 1(a) or 1(b). My software is including these under 1(b) but there will be no 12BA for this
Sorabh Gupta
(Manager ( Taxation ))
(877 Points)
Replied 25 May 2009
Mr Venkat
1(a) Salary u/s 17(1) include -: Basic, Allowance i.e. HRA, Conveyance , furniture , or any fixed allowance.
in 1(b) Perquisite 17(2) includes -: Free Accomodation, car facility , interest free loan , LTA taxable , medical taxable i.e. >15000 , free education etc.
If in form 16 , it includes the value u/s 17(2) then it is compulsory to issue form 12BA to employee...........
CAclubindia
