Deduction of Salary U/S 10(2)(xi) - Koi Baat Hai?
tax bar_exam intermediate late_night_postDude I'm literally dying here, 2 am and taxation law is still killing me. 'Papa ki chidiya ne papa ko itna confusion diya ki judge ne khud khade ho jaa kar suna.' Just kidding, Papa ne case ke liye yeh argument use kiya tha. Seriously though, U/S 10(2)(xi) ke under salary ki deduction kaise hoti hai, yeh pehla baar me main samjh nahi raha hoon. Pehle to me samajhne ki koshish kar raha hoon ki salary deduction ki limit kya hai, phir uske under deductions kaise hoti hain. U/S 10(2)(xi) ke under jo salary deduction hoti hai, woh exempt hain, ya phir exempt nahin.
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Bhai, yaar clarification hai. Salaried employees ke liye, only those income tax deductions are allowed under Sec 10(2)(xi) which are specifically notified by Govt. It's not just any salary deductions, like PF, medical etc. Specifically, only those expenses are deductible which are compulsorily incurred by the employer for employee's benefit and are actually paid by the employer.