Code 104; deduction, amount and description

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Tax deductions are a benefit for certain individuals who can pay less tax on their income. Thus, the deduction code 104 assumes the presence of a number of certificates, and it relies on a small category of persons, based on the documents submitted to the accounting department. It belongs to the category of so-called standard tax deductions. Each employee can independently check the correctness of its application.

What is a tax deduction anyway?

First of all, it is worth knowing what such a thing as a “tax deduction” is. This is a benefit that is provided by the tax authorities on the basis of certain documents. So, there are several categories of deductions:

• standard;
• property;
• social.

The first category is worth looking at in more detail, as deduction code 104 represents one of the standard tax deductions.

Standard tax credits for self and child

The most common deductions are for children. So, an employee who has a minor child or studentfull-time students under the age of 24 are eligible for a reduction in the tax base.

However, not everyone knows that there are so-called personal deductions. It is about them that we will talk. Deductions for codes 104 and 105 rely on the person himself.

Code 105 is less common. According to the legislation of the country, such a deduction in the amount of three thousand rubles is due to persons who have suffered radiation sickness, a participant in the liquidation of the accident at the ill-fated Chernobyl nuclear power plant, as well as persons who received a disability after the tragedy. Each item is described in more detail in Article 218 of the Tax Code.

The deduction for code 104 is due to those who have the first or second group of disabilities or are a participant, a veteran of military operations, which confirms the certificate. Such citizens are en titled to a benefit of 500 rubles. What does it mean? In other words, the taxable base will be reduced by this amount.

How to calculate tax: deductions and their application

To calculate the amount of tax, you need to subtract the amount of the deduction from the taxable base. In the case of deduction code 104, it will look like this: (wage amount - 500 rubles)13%.

In other words, if an employee has accrued wages in the amount of 10,000 rubles, while he is en titled to a deduction in the amount of 500 rubles, then the employee can easily check the correctness of the tax calculation.

To do this, you need to subtract the amount of the deduction from the salary. That is:

10,000 – 500=9,500 rubles.

Now 950013%=1235 rubles. This is the amount of tax that must be withheld.

That is, a tax deduction of 500 rubles a month helps an employee to receive 65 rubles. It is by this amount that the transferred tax is reduced.

What do you need to get a deduction

Tax deduction with code 104, like everyone else, is received on the basis of the documents provided.

So, if an employee has a disability of the first or second group, then he needs to go to the accounting department and bring the following documents:

• copy of disability certificate, filmed from both sides;
• personal statement with filing date and signature.

Also on the certificate it is indicated by what number a person was assigned a disability, or that it is indefinite. In the first case, the employee must bring a certificate every year, after passing the ITU.

Combatants must also bring a copy of the certificate and a personal statement indicating the reason for receiving the deduction, the date the documents were submitted and signing. A copy of the certificate should be updated only at the request of the accounting department.

The deduction for code 104 is provided either to combatants or to disabled people of the first and second groups. Of course, in order to use the right to receive such a benefit, all documents must be submitted. Also, each employee can independently calculate the amount of tax in order to check the employer. The amount of this deduction is 500 rubles, that is, every month a citizen receives more than 65 rubles.