ITR FY 2011-2012

In the ITR excel utility , there is no place to put the medical, hra, ltc, uniform etc deductions . So what should be the value entered in the "Income from salary "? The actual salary without these deductions or the "Income chargebale under the head 'Salaries' (3-5)" which is income after deducting these components.

asked Mar 29 '13 at 00:51 by cshekhar3334 311312

As deduction for HRA, medical bills and uniform allowance is provided by employer only, your income from salary should already be computed after deducting these exemptions.

You should only put figure under column "Income Chargeable under the head 'salaries'(3-5)" mentioned in form-16 for "income from salary" in ITR.

answered Mar 29 '13 at 00:59 by Pankaj Batra 5.2k320

You are too Good!
(Mar 29 '13 at 01:00) cshekhar3334
Oh and also i have savings account but the interest received is not more than 10,000. Do i have to mention the interest received (suppose 1000 INR) in ITR ? If yes under which column?
(Mar 29 '13 at 01:06) cshekhar3334
yes, you should mention interest under income from other sources. You can claim deduction upto Rs 10,000 for Interest on deposits in saving account (u/s 80TTA).
(Mar 29 '13 at 01:13) Pankaj Batra
Ok. That is mention that I got 1000 from interest and then claim deduction of 1000 under 80TTA. That is the tax on interest will be nil. But I don't see 80tta in ITR form
(Mar 29 '13 at 01:51) cshekhar3334
This deduction for saving bank account interest is only available from FY 2012-13 (AY 2013-14) so it would only be available in ITR starting from this year. Prior to this year, interest is fully taxable as per slab rates.
(Mar 29 '13 at 01:55) Pankaj Batra

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Asked: Mar 29 '13 at 00:51

Seen: 1,096 times

Last updated: Mar 29 '13 at 01:55