amit kumar (Student CA Final ) (123 Points)
28 July 2014Dear Experts,
If employer is not showing Transport Allowance, Mediclaim ALLOWANCE or any other Exempt allowance and has deducted TDS on Salary and Issued Form 16. Can Employee by himself claim Deduction of Exempted allowances in his ITR ,which were not Shown by the Employer in Form 16.
Kindly Rpl fast.
Mihir
(Wealth Manager)
(5293 Points)
Replied 28 July 2014
Yes, the assessee may claim exempt allowances in ITR.
amit kumar
(Student CA Final )
(123 Points)
Replied 28 July 2014
Hitesh Khanna
(Accounting & Finance Taxation Company Law Audit )
(839 Points)
Replied 28 July 2014
I would not advise that the assesse should claim them in the absence of any such evidence.
Where Form 16 is issued and the Amount is mentioned under the head Basic Salary only, claim by the assessee shall amount to mismatch of Amount Taxable under the Head salary as per Form 16 and as per Return.
amit kumar
(Student CA Final )
(123 Points)
Replied 28 July 2014
CA J.Alamelu lakshmi
(Chartered Accountant)
(852 Points)
Replied 28 July 2014
But if your Salary has only Basic or if it doesn't contain the Allowances separately, deduction cannot be claimed.
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 28 July 2014
CA Himanshu Bansal
(Risk Manager)
(2345 Points)
Replied 28 July 2014
Yes, compute all such deductions/reliefs at the time of filing the return keeping in view the exact limits and provisons and claim the excess TDS as refund for the year.
Avi Sharma
(1)
(27 Points)
Replied 29 July 2014
Yes, he can prepare his return by considering such allowances and claim valid refund in excess of TDS deducted by the employer from genuine TDS after considering such allowance exemption. I. Tax Deptt. shall not impose obligation on it.
Jaspal Singh
(Practising CA)
(449 Points)
Replied 29 July 2014
Yes,He can claim it provided he has evidence in his possession on the basis of which he is claiming the said amounts.He can file ITR by providing them in the appropriate place.And can claim refund on the Excess Tds..
NITIN KOTAK
(SERVICE)
(1465 Points)
Replied 29 July 2014
amit kumar
(Student CA Final )
(123 Points)
Replied 29 July 2014
CAclubindia
