While preparing the From No.24Q4, WHICH AMOUNT SHOULD BE SHOWN "either Salary u/s 17(1) or Net Salary (i.e.after claiming all exemptions and deductions wherever is eligible) IN DEDUCTIONS DETAILS FIELD .
Regards
Maruthi (Tds Returns Preparer) (207 Points)
04 April 2012While preparing the From No.24Q4, WHICH AMOUNT SHOULD BE SHOWN "either Salary u/s 17(1) or Net Salary (i.e.after claiming all exemptions and deductions wherever is eligible) IN DEDUCTIONS DETAILS FIELD .
Regards
prateek aanchalia
(CA)
(859 Points)
Replied 04 April 2012
Dear friend
When you are filing TDS return for salary than gross amount of salary are liable to TDS deduct. so u take gross amount of salary. because in tds return deducation not include. on salary tds deduct on excess salary of basic exemption limit salary. in this if person show u 80C deduction certificate than upto that amount not require to deduct tds. (maximum 100000 deduction allow u/s 80C).
so gross salary taken for tds return filed.
Maruthi
(Tds Returns Preparer)
(207 Points)
Replied 05 April 2012
tnx prateek,
But in the form 24Q4, we should also fill the Salary Statement along with all deductions (ex.80C),
So, then the Net taxable income in salary statement and gross amount showing in deduction column. So, In my point of view , we should show the gross amount in deduciton coloumn.
Regards
prateek aanchalia
(CA)
(859 Points)
Replied 05 April 2012
gross amount on which TDS deducted taken in gross amount coloum.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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