Dear Friends,
I am having certain queries in filling up of Annexure I & II in Form 24 Q Quarter 4 th returns.
My queries are as follows:
In annexure - 1 there is a column named Taxable Amt on which Tax Deducted (Col No. 318)
What amount needs to be entered here? Because one of my staff told we have to mention the total monthly salary minus HRA exemption of that month - transport allowance exemption of that month. (800 or 1600 as per need)
If it is the pure taxable salary (after all exemptions & deductions) then how to arrive at the amount in case of persons having 20%, 30% deductions)
Date to which employed with Current Employer (Col 331) should be 31/03/2012 (pls confirm)
Also another query is in Annexure - II there is one column named Total Amount of Salary ( Col No.332)
And from this amount provision for only certain deductions / exemptions are given to be entered by the user.
There is no provision to enter medical reimbursement, cea allowance exemption (1200 Rs per child) , HRA exemption, transport allowance )
So if Y is the total salary then after deducting the amount of above mentioned exempiton , deductions then only we get some X amt, which when entered in annexure II in col no 332) will give the correct tax amount after ptax, int on housing loan sec 80C & chapter VIA deductions.
Can anyone clarify whether this is the correct method. Also why all the exemptions / deductions of form 16 are not given in annexure -II of Form 24 Q Quarter 4 return
Also if an employee is having 0 tax after submitting investment proofs and no tax is deducted, then should we mention the details of that employee in Annexure - II ???
Someone please clarify ..
CAclubindia
