Income Tax Form Ten E

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This discussion clarifies how to correctly declare arrears received in a later financial year on Income Tax Form 10E. It addresses how to account for income from previous years (19-20 and 20-21) when filing for the current year (21-22), considering both the original income and subsequent arrears received. The conversation also touches upon the tax implications and calculations based on these adjusted income figures.

Rashmi Asija

Rashmi Asija (Querist)

27 July 2022 suppose income of 19-20 is 500000

Income of 20-21 is 1000000 which includes 100000 arrears of 19-20 and accordingly 10E filed for 20-21

Now in 21-22 again arrears of 250000/- received for 19-20 and 300000 for 20-21.

Now for 21-22 10E Form can we consider 600000 income for 19-20 and 900000 for 20-21
or 500000 for 19-20 and 1000000 for 20-21

Manish

Manish (Expert)

27 July 2022 It will be 5 lac + 1 lac + 2.5 lac = 8.5 lac for 19-20
And (9+3) = 11 lac for 20-21

Rashmi Asija

Rashmi Asija (Querist)

27 July 2022 Ok and what will be tax suppose in 19-20 tax is 12500 and on additional 100000 tax is 20000
So we have to add up 12500 and 20000 tax in year 19-20 column

and Tax on 900000 (excl tax on 100000) Rs. 92500

Manish

Manish (Expert)

28 July 2022 85,800 on 8.5 lac
1,48,200 on 11 lac

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