Comment posted on File Income Tax Return Online by ron.
Amount is the severance pay which company had paid to me during layoff due to a site closure. In the final settlement, its shown as severance pay. I was reading somewhere that there is clause to claim tax exemption for the same. But still not clear.
ron also commented
- Hi Pankaj,
Can we claim tax exemption for the compensation amount received from company? My previous company had given compensation but the same is shown under salary in form 16. But i do have a final settlement statement from the company where this is shown separately. TDS is already taken at highest rate by the company.
Please let me know if i could claim exemption.
- Hi Pankaj,
I have two form 16 s. and in the second one since i did not submit any rental proof or investment proof,medical bills or LTA bills company deducted tax. now i want fo file the tax return. can i
sumbmit the investment proof(LIC/MF) with return?
submit the rental proof for the second form 16 for the HRA tax deduction( i have received a component for HRA)?
can i claim deduction by submitting medical bills?
can i claim deduction for LTA while filing returns.I have read in few places that we can claim LTA while filing taxes.