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Query related to itr-1 income from salary

Rahul Panday (Internal Auditor) (47 Points)

14 July 2018

Dear Experts, At the time of filling of ITR Return under Income from Salary; portion of Bonus, Incentive received from Employer entered in Profit in Lieu of Salary portion instead of Gross Salary. Now can anybody guide me in this regard whether i have to revised ITR returns of my client or not ? Thanks Rahul Panday

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4 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178301 Points)
Replied 14 July 2018

Check the wordings in ITR...... its 'Salary (excluding........... )

As per that you would have entered the things perfectly, as you have to bifurcate the taxable persequites.....

So, recheck- the filled data and take call......

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Rahul Panday (Internal Auditor) (47 Points)
Replied 14 July 2018

SIr,

Should i have to revised my returns or not ?

CA Naveen Chand (Chartered Accountant) (12729 Points)
Replied 14 July 2018

file itr as per form 16

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 14 July 2018

There are two different opinions coming here: 1) file ITR as per Form 16 2) derive all different types of amounts employer paid in FY and display them in ITR. Where to display what allowances and how to fit special allowance and incentive paid is high debate. How will one just get total of basic salary? How will I get just total of special allowance? How to determine mobile phone e reimbursement? How to determine incentive bonus paid? And where to write all this in that ITR?