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?
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.
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