income tax
This query is : Resolved
16 July 2009
During the previous year ending March 31,2009,Mohan a salaried employee(age 40 years)received Rs3,00,000 as Basic Salary and Rs 20,000 as arrears of bonus of the Financial Year 1994-95.During the previous Year 1994-95,Mohan has received Rs 50,000 as salary.Mohan deposits Rs2000(during 1995-96) and Rs10,000(during 2008-09)in Public Provident Fund.
Pls clarify regarding this.
Advance thanks.
GIRISH.
Pls clarify regarding this.
Advance thanks.
GIRISH.
16 July 2009
Arrear Bonus amounting to Rs. 20,000/- will be taxed in the hands of Mr. Mohan for the assessment year 2009-10 and he can claim benefit of his deposits of Rs. 10,000/- in PPF U/s 80C. No tax treatment will be required in the year 1994-95.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Reporting Income under Section 44ADA
- Itr 1 processing
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- ITR returnFY25-26
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Registration as Authorised Representative of minor
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
