29 July 2016
Dear Sir, A bank employee has received Arrear salaries for last three years, In Table A of Arrear calculation Sheet in Coloumn 2 of Total Income of the releavent Previous Year bank has included salary +interest on fixed deposit and deducted interest on house building loan and after that they deducted deductions under chapter VI A for calculating total income of that year. Whether it is correct to include intt on fixed deposit and deduct intt on house building loan for calculating total income.
CAclubindia
