deduction of rs5000 from salary of employee URGENT
Querist :
Anonymous
(Querist) 05 April 2010
This query is : Resolved
URGENT
RESPECTED MEMBERS,
ONE OF OUR EMPLOYEE A CONSTUCTED HOUSE AT NAGPUR AND FOR THAT TOOK LOAN FROM CREDIT COOPRATIVE SOCIETY FOR THE EMPLOYEES OF OFFICE ,EMPLOYEE A CLAIM BENIFIT U/SEC24-A AND 80 -C AS PER INCOME TAX ACT 1961 THE OFFICE REFUSE TO GIVE BENIFITAS ABOVE AND ADVISE EMPLOYEE GET RETURN FROM INCOME TAX DEPARMENT MY QUESTION IS
1) WHETHER IS IT MANDATORY TO CONFER/GRANT BENIFIT AS CLAIMED ABOVE
2)IS THE ACTION OF MY IS LEGAL
soumitra basu
(Expert) 06 April 2010
It it mandatory to allow benefit to the employee if he get certificate from the credit co-operative society in the following;
1.The house has already been acquired by the employee.
2. Amount of principal repaid.
3. Interest debited to the employee.
Querist :
Anonymous
(Querist) 06 April 2010
respected sir
Employee claim rebate benifit u/section 24-A and 80 cas per income tax Act,our office refuse to give benifit as claim above & deduct Rs 5000/- from salary of employee and advice him to file saral form and get refund of money from income tax department My question is
1) Whether is it mandatory on my office to confer /grant rebate benifit as claim above,this is because most of employees may take lone from 2 or 3 co oprative bank for construction of house and do malpractices to avoid tax liabilities
most of bank ready to give loan without verifying documents &on basis of salary certificate My question is
1)Whether is is mandatory on office to confer/grant rebate benifit as claimed above
2)is the action of office not toconfer/grant rebate benifit as claimed above and advice him to file the saral form and get the money refund from the income tax department is legal
please reply its Urgent
