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Arrear

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This query is : Resolved

AMIT KR GHOSH (Querist)
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31 July 2012 PENSION ARREAR OF LAST TWO YEARS RECEIVED IN THIS YEAR, HOW TO CALCULATE THE INCOME FOR IT RETURN. IF I SHOW THE TOTAL AREAR THIS YEAR THEN I COME UNDER TAXABLE INCOME, IF ONLY LAST ONE YEAR ARREAR SHOWN I DONOT COME UNDER TAXABLE INCOME. PLEASE ANYONE CAN SOLVE THE PROBLE OF ARREAR CALCULATION.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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31 July 2012 Arrears will be taxable in the year of receipt. However, the assessee is entitled to relief u/s 89.

Mohit Naithani

Mohit Naithani (Expert)
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31 July 2012 Whole amount of Arrears of pension recv in Previous year is taxable under the head of Income From Salary if not taxable earlier.

But if its recv as a family pension by Legal Heir then its taxable under the head of Income From Other Sources and 1/3 is exempt subject to maximum limit of Rs 15000/-.

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