Arrears received
This query is : Resolved
09 October 2015
Hello Experts,
Kindly solve m y following Query :
Mr A, Take VRS from SBI in the Month of June 2013. He has been paid Arrears of that year from NOV 2012 (Satellment date) to Jun 2013 in this Financial Year i.e. in 2015-16. He has received the Arrears from Salary, PF, Gratuity, Leave encasement, commutation of pension etc..
Will this arrears be taxable or exempt in the hand of Mr. A ? Under which section ? Does he required to calculate Rebate under section-89 ? if yes, then kindly provide me the source of calculation of Rabat U/S 89.
Thanking You,
Kindly solve m y following Query :
Mr A, Take VRS from SBI in the Month of June 2013. He has been paid Arrears of that year from NOV 2012 (Satellment date) to Jun 2013 in this Financial Year i.e. in 2015-16. He has received the Arrears from Salary, PF, Gratuity, Leave encasement, commutation of pension etc..
Will this arrears be taxable or exempt in the hand of Mr. A ? Under which section ? Does he required to calculate Rebate under section-89 ? if yes, then kindly provide me the source of calculation of Rabat U/S 89.
Thanking You,
09 October 2015
It will be taxable. but rebate can be claimed based on the previous year income slabs.
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