Please let me know if an employee, during his previous employment (Apr '14 to Aug '14), availed exemption under 80C amounting to ₹1,50,000/-. During his current employment, is he eligible for exemption under 80C?
Regards
From India, Madras
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2Regards
From India, Madras
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No, he is not eligible for any further deduction under section 80C. However, while considering his previous employer's income, you need to take into account the following:
• Gross earnings after section 10
• Tax benefits extended by the previous employer under section 80C
• TDS deducted by the previous employer
• PT deducted by the previous employer
Refer to the attached previous employer details for more understanding.
Regards,
Amar
From India, Delhi
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• Gross earnings after section 10
• Tax benefits extended by the previous employer under section 80C
• TDS deducted by the previous employer
• PT deducted by the previous employer
Refer to the attached previous employer details for more understanding.
Regards,
Amar
From India, Delhi
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf
Employee Benefits.doc