Income tax return

POSTED BY santuu santu ON February 16, 2013 12:50 pm ONE COMMENT

Please help for regarding the following :

1. In rental agrrement my parents name are there. The house owner gives the rent slip to me where my name is there. Can I submit these rent slips to get the IT exemption?

2. I have changed my job during FY 2012-13. So new company will issue Form 16 for the salary I have drawn from this new company. Am I right?

3. Does food and convenience allowance gets deducted from the total amount straightway before calculating the taxable amount?

One reply on this article “Income tax return”

  1. Dear Santuu, if rent agreement is in your parents’ name, you can not claim tax benefit merely on the basis of rent receipts. If you want to combined the income from 2 employers, please declare your prev. employer;s income to your current one & you ‘ll get a consolidated form 16.

    Else you w’d have to collect 2 form 16 from old & new employer.

    If the said food coupons are part of your salary package, your account people ‘ll do the needful calculation to save tax for you from it. You need not to worry on that.

    Thanks

    Ashal

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