Author Topic: CPF deduction in income tax  (Read 6070 times)

jasjeet sidhu

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CPF deduction in income tax
« on: February 13, 2012, 10:58:09 AM »
CPF deduction tax statement vich 100000 di saving vich samal krde han ya s to upper alag taxable amount vichon deduct kita janda hai........

Mere kol jo tax calculation da performa hai os vich upto 100000 di savings da alag total kita gia hai te CPF nu 80 ccc de under alag likhya gia hai.....
Jas Sidhu

Satinder

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Re: CPF deduction in income tax
« Reply #1 on: February 13, 2012, 11:01:51 AM »
Total deduction shl not exceed 1 lakh.(total of all deductions)
:D

aaarvind

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Re: CPF deduction in income tax
« Reply #2 on: February 13, 2012, 12:15:57 PM »
C.p.f. Total ddctn vich hi calcult hovega
c.p.f. Nu pa k tuhadi saving 100000 tak hovegi
Arvind Passi
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sanjay hindi

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Re: CPF deduction in income tax
« Reply #3 on: February 13, 2012, 01:03:09 PM »
CPF is also a saving. CPF is included in saving. And maximum saving is 100000. If your saving is more than 100000 then you will get rebate on only 100000.

Ashok Kumar

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Re: CPF deduction in income tax
« Reply #4 on: February 13, 2012, 05:12:53 PM »
DEDUCTION (U/s 80 C, 80CCC, 80CCD) on Savings (Maximum limit of deduction is Rs.1,00,000). This is u/s 80CCE. Infra structure bonds    are u/s 80CCF (Maximum limit of deduction is Rs. 20,,000) In this way u/s 80CCE & u/s 80CCF, total Rs. 1,20,000 can be deducted. CPF is u/s 80CCC                        

ravinder kumar

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Re: CPF deduction in income tax
« Reply #5 on: February 13, 2012, 07:43:59 PM »
what is hra rebate formula in incom tax deduction how i avail it?
Ravinder Kumar

TF2412

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Re: CPF deduction in income tax
« Reply #6 on: February 13, 2012, 08:32:31 PM »
PS the attached circluar(PDF) , as per income tax department circuler no 05/2011 dated 16-08-2011( See pdf PAGE NO 30)


ADMISSIBLE SAVING IS AS PER


80C+80CCD(1)=100000/ limit

80CCD(1) INCULDE CPF EMPLOYEE SHARE

AND U/S 80CCD(2) ANY CONTRIBUTION BY GOVT IN CPF (APART OF ABOVE 100000/- SAVING) IS ALSO COUNTED IN SAVING..

e.g

if employee share is 50000/ and 50000 is ppf or LIC etc

then 80C+80CCD(1)=50000+50000=100000/-

and CPF employer =50000/- then total saving is 150000/-
« Last Edit: February 13, 2012, 08:37:48 PM by TF2412 »

Lakhwinder pal singh

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Re: CPF deduction in income tax
« Reply #7 on: February 13, 2012, 09:18:29 PM »
 saving up to 100000 is under rebat ,G P F, OR C P F, N S C, L i c etc, p p f, tution fee of two children, interest of house and principle amount, are major tool to save tax,

TF2412

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Re: CPF deduction in income tax
« Reply #8 on: February 14, 2012, 01:58:40 PM »
please download the Latest Income tax circular(circuler no 05/2011 dated 16-08-2011) and you can see additional income tax saving applicable wef 01.04.2011 for CPF -Govt Share apart from RS 100000/- normal limit

jasjeet sidhu

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Re: CPF deduction in income tax
« Reply #9 on: February 14, 2012, 07:14:21 PM »
it means j kr other deduction one lakh ho jan then asi cpf os to above add kr k total income vicho deductnkr skde han...means....

100000 saving+cpf

m i correc???

 

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