I am expected to receive around 10L as pension arrears which is due for the past three years. I was filing my IT returns promptly for the past three years with income less than 1L as no pension was sanctioned to me at that time. Now how to revise my IT returns and account my pension arrears with the corresponding years so that my tax liability my be reduced. If the income is put into whole in the current year, I may be liable to pay 30% on the arrears. Please guid me.
16 December 2019
Dear Mr.Vasudevan You need not revise your returns of income filed for the earlier assessment years. You have to make an application to your jurisdictional Assessing Officer in Form No.10E as per the provisions of Section 89 of Income-tax Act, 1961 for getting relief from being charged higher rate of tax because receipt of arrears pertaining to the earlier assessment years in the current assessment year. Best Wishes SathikondaA
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