faraz094 (Student CA IPC / IPCC) (142 Points)
04 September 2015
Piyush Tanwar
(Assistant Manager - Accounts)
(1432 Points)
Replied 04 September 2015
You have to enter net salary. i.e., Rs. 290000.
Rashi Bajaj
(CA)
(752 Points)
Replied 04 September 2015
Only net salary is to be shown as TDS was deducted only on net salary. The differential amount is exempt from tax under vairous sections.
Miss Rinkal
(Student)
(1309 Points)
Replied 04 September 2015
In form 16 whatever income is shown as "Income chargeable under the head salaries" has to be recorded in TDS Sheet. I.e part 2 of itr
Rahul Fageria
(Student)
(39 Points)
Replied 04 September 2015
Miss Rinkal
(Student)
(1309 Points)
Replied 05 September 2015
The Form 16 given to you would clearly mention Income under the Head Salaries. The same amount has to be shown in Tds sheet of Itr
ANKIT AGARWAL
(DEF)
(580 Points)
Replied 07 September 2015
Since you are claiming an exemption of more than 5000, you msut file ITR-2 & not ITR - 1
Your employer have filed TDS Return with an amount that exceeds net salary by more than 5000, the changes of your ITR -1 being declared defective by the CPC are high.
you should anyways write the net salary figure in the TDS schedule in the relevant ITR
CAclubindia
