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Income-tax (3rd Amendment) Rules, 2021 - 15/2021 - Income Tax

Extract

..... e (other than from perquisites) : 7. Financial year : 8. Valuation of Perquisites : S. No. Nature of perquisites (see rule 3) Value of perquisite as per rules (Rs.) Amount, if any, recovered from the employee (Rs.) Amount of perquisite chargeable to tax Col. (3) - Col. (4) (Rs.) (1) (2) (3) (4) (5) 1. Accommodation 2. Cars/Other automotive 3. Sweeper, gardener, watchman or personal attendant 4. Gas, electricity, water 5. Interest free or concessional loans 6. Holiday expenses 7. Free or concessional travel 8. Free meals 9. Free education 10. Gifts, vouchers, etc. 11. Credit card expenses 12. Club expenses 13. Use of movable assets by employees 14. Transfer of assets to employees 15. Value of any other benefit/amenity/service/privilege 16. Stock options allotted or transferred by employer being an eligible start-up referred to in section 80-IAC. 17. Stock options (non-qualified options) other than ESOP in col 16 above. 18. Contribution by employer to fund and scheme taxable under section 17(2)(vii). 19. Annual accretion by way of interest, dividend etc. to the balance at the credit of fund and scheme referred to in section 17(2)(vii) and taxable under section 17(2)(viia). 20. Other .....

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Income-tax (3rd Amendment) Rules, 2021 - 15/2021 - Income Tax

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..... ertainment allowance under section 16(ii) Rs. ... (c) Tax on employment under section 16(iii) Rs. ... 5. Total amount of deductions under section 16 [4(a)+4(b)+4(c)] Rs. ... 6. Income chargeable under the head "Salaries" [(3+1(e)-5] Rs. ... 7. Add: Any other income reported by the employee under as per section 192 (2B) (a) Income (or admissible loss) from house property reported by employee offered for TDS Rs. ... (b) Income under the head Other Sources offered for TDS Rs. ... 8. Total amount of other income reported by the employee [7(a)+7(b)] Rs. ... 9. Gross total income (6+8) Rs. ... 10. Deductions under Chapter VI-A Gross Amount Deductible Amount (a) Deduction in respect of life insurance premia, contributions to provident fund etc. under section 80C Rs. ... Rs. ... (b) Deduction in respect of contribution to certain pension funds under section 80CCC Rs. ... Rs. ... (c) Deduction in respect of contribution by taxpayer to pension scheme under section 80CCD (1) Rs. ... Rs. ... (d) Total deduction under section 80C, 80CCC and 80CCD(1) Rs. ... Rs. ... (e) Deductions in respect of amount paid/deposited to notified pension scheme under section 80CCD (1B) Rs. ... Rs. ... (f .....

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Income-tax (3rd Amendment) Rules, 2021 - 15/2021 - Income Tax

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..... ip;……… Notes: 1. Government deductors to fill information in item I of Part A if tax is paid without production of an income-tax challan and in item II of Part A if tax is paid accompanied by an income-tax challan. 2. Non-Government deductors to fill information in item II of Part A. 3. The deductor shall furnish the address of the Commissioner of Income-tax (TDS) having jurisdiction as regards TDS statements of the assessee. 4. If an assessee is employed under one employer only during the year, certificate in Form No. 16 issued for the quarter ending on 31st March 2021 of the financial year shall contain the details of tax deducted and deposited for all the quarters of the financial year. 5. (i) If an assessee is employed under more than one employer during the year, each of the employers shall issue Part A of the certificate in Form No. 16 pertaining to the period for which such assessee was employed with each of the employers. (ii) Part B (Annexure) of the certificate in Form No.16 may be issued by each of the employers or the last employer at the option of the assessee. 6. In Part A, in items I and II, in the column for tax deposited in respect of deductee, .....

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Income-tax (3rd Amendment) Rules, 2021 - 15/2021 - Income Tax

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..... tc. under section 80C. Deduction in respect of contribution to certain pension funds under section 80CCC. Deduction in respect of contribution by taxpayer to notified pension scheme under section 80CCD(1) (349) (350) (351) (352) (353) (354) (355) (356) (357) (358) Deduction in respect of amount paid or deposited under notified pension scheme under section 80CCD(1). Deduction in respect of contribution by employer to notified pension scheme under section 80CCD (2). Deducti on in respect of health insuranc e premia under section 80D. Deduction in respect of interest on loan taken for higher education under section 80E. Total deduction in respect of donations to certain funds, charitable institutions, etc. under section 80G. Deduction in respect of interest on deposits in savings account under section 80TTA. Amount deductible under any other provision (s) of Chapter VI‐A. Total amount deductible under Chapter VI‐A [356+357+358 (limited to ₹ 1,50,000) +359 +360+361+362 +363+36 4+365]. Total taxable income (355-366) Incometax on total income. (359) (360) (361) (362) (363) (364) (365) (366) (367) (368) Rebate under section 87A, if applicable. Surcharge, wherever applica .....

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Income-tax (3rd Amendment) Rules, 2021 - 15/2021 - Income Tax

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