hi everybody
there is a seminar in my college on topic
'DEDUCTIONS ON SALARY INCOME'
plz anybody provide the details on dis topic.......
wat r the deductions available 2 a salaaried assessee??????
1 Replies
AKHILESH
(Student)
(90 Points)
Replied 18 July 2008
Salaried Assesse can avail two types of deductions
firstly is U/S 16(ii) Entertainment allowances only in case of govt. employee of rs 5000 or 20% of Basic Salary whichever is less
& U/S 16(iii) professional tax of rs 5000
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