Comments for TIBS Blog

Comment on Deduction under section 80GGA of the Income Tax Act by Gautham

Gautham — Fri, 06 Jan 2012 09:36:02 +0000

During the normal course, the income tax department goes by the information presented in the return. The assessee could submit the investment proof to the income tax officer in case they are asked to do so.

Comment on Deduction under section 80GGA of the Income Tax Act by bandish kapoor

bandish kapoor — Fri, 06 Jan 2012 09:09:59 +0000

but while filling e-returns,IT deptt has instructed not to send any documents with ITR form. so do we need to send receipt of donation seperatly to I.T.?

Comment on Deduction under section 80GGA of the Income Tax Act by Gautham

Gautham — Sun, 11 Dec 2011 14:10:52 +0000

100% of the donation made.

Comment on PF contribution – company policy cannot overrule the law by Gautham

Gautham — Sun, 11 Dec 2011 14:03:17 +0000

It is legal to calculate PF on restricted Basic. The law states that the PF contribution should be calculated as 12% of the salary subject to a maximum of Rs.6500/- per month.

Comment on PF contribution – company policy cannot overrule the law by ssnkumarNarendra

ssnkumarNarendra — Thu, 08 Dec 2011 05:14:29 +0000

My basic salary is more than Rs.6500 – My form-16 and payslips confirm this.

Now, my company is giving only Rs.780 as PF (calculated keeping basic as Rs.6500).
But, in all the previous companies that I have worked for, the basic was calculated as 12% of full basic.

So, is it legal to calculated PF on Rs.6500 “restricted basic”, while the actual basic is much more than Rs.6500?

Please clarify.

Comment on PF contribution – company policy cannot overrule the law by Paras Gupta

Paras Gupta — Fri, 02 Dec 2011 07:36:27 +0000

Good knowledge sharing

Comment on Salary for the purpose of PF calculation by Surinder Mittal

Surinder Mittal — Thu, 01 Dec 2011 13:42:58 +0000

Dear Sir,
Awesome article published by you. Hats off to you.

My Query:
working in BSNL since 2002.
Basic is 19530, EPF contribution 12% plus IDA.
Employer contributing 13.61% plus IDA and is bifurcating the amount (13.61%+IDA) into “Pension Salary Fund” and “Employer Share”.
as per my little knowledge, the Pension Salary fund is for those employee governed by New Pension Policy. please clear my doubt and guide me the right reality in this regard. also provide me the Suggestions and Links or Circulers if available to you.

Thanks and Regards…

Surinder Mittal
09417583939
mittals3_surinder@yahoo.com

Comment on Calculation of loss of pay – Part I by venki

venki — Mon, 28 Nov 2011 12:40:55 +0000

I dnt knw

Comment on Deduction under section 80GGA of the Income Tax Act by Sweta Singhania

Sweta Singhania — Fri, 18 Nov 2011 08:35:54 +0000

Sir What Is the amount of deduction available under this section?

Comment on Salary for the purpose of PF calculation by Gautham

Gautham — Thu, 17 Nov 2011 06:17:37 +0000

If only the Basic pay has been reduced while your total compensation remains the same, I think, your company is within its right to restructure the package. From your point of view, if the total compensation amount does not change, why should you feel aggrieved?

If your total compensation has been reduced, you could seek an explanation from your company.