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RKSINGH
20-03-2012, 09:50 AM
The FAO of my organization is not agreed to exclude central government contribution (10% of Basic+GP+DA) from overall saving limit of Rs. 100000/- for the income tax calculation as per circular 5/2011 of Income tax department. What can I do? Please suggest. Thanks

SASI
21-03-2012, 01:21 PM
You may represent to the PAO quoting the IT Circular 5/2011 wherein it is clearly stated that deduction on employer's contribution "shall be outside the overall limit of Rs one lakh under section 80CCE of the Income Tax Act, 1961".

sasi

RKSINGH
21-03-2012, 01:48 PM
Thankyou very much Sasi ji