sec 89 &sec17(2) to arrears from 2006 to 2012


This query is : Resolved 

11 August 2019 Arrear from 2006 to 03-2012 paid by MCL directly to SUPERANNUATION FUND ON 31/03/19.FORM 10E,ANEXURE I SUBMITTED BOTH ONLINE AS WELL AS HARD COPY ALONG WITH ATTESTED COPIES OF TAX RETURNS OF 2006-07 TO 2011-12. I AM GIVEN TO UNDERSTAND UPTO 03/09 THE SEQUENTIAL AMOUNTS PAID ARE TAX EXEMPT AND THEREAFTER U/S 17 (2) (vii) upto 1 lac is tax exempt till 03/2016 and 1.5 lac thereafter per anum. IN JULY THEY SHOWED WHOLE ARREAR AMOUNT OF 412245 ON FORM 26AS TDS AMOUNT OF 3127 (which is same as in annexure I). Now in Aug the Form26As is showing amount paid as 262245 while tax paid remains same. They have sent an unsigned form16B through mail Which shows 262245 as perquisite u/s 17(2) and tds 3127. I have already protested to my finance deptt. and sought appropriate Form 16 part A & part B. Pl tell me whether applying relief u/s 17(2) yearwise on arrear amount while computing relief u/s 89 is correct or not. Pl note in past I never availed relief u/s after 1989.Besides this arrear I do have pension,interest,capital gains,agri income totalling around 967956.Admissible deductions u/80C,G,TTB would be 248500.If Sec 89 relief as per annexure I is allowed my tax outgo would be far lesser.So pl tell whether both sec 89 and sec 17(2) (vii) can be apllied simultaneously on arrears remitted directly to Approoved superannuation fund.
AWAITING REPLY
RAJENDRA RAO

11 August 2019 Claim 89(1) relief only. 17(2)(vii) 1,50,000 already deducted you can't claim it again.


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