Recovery of excess paid arrears.

This query is : Resolved

v v rao (Querist)
Follow

07 February 2011 Arrears were paid in the previous year and tax was recovered.

Now it is found excess payment and recovery is arranged in instalments spreading over 3-4 years.

Now the questions are :

1. How the recoveries are shown in the current assessment?
2. How the income tax recovered in lump sum during last assessment year gets adjusted?

K V Subba Rao

K V Subba Rao (Expert)
Follow

07 February 2011 Please check the following link

http://in.answers.yahoo.com/question/index?qid=20100928210443AABMxq2

Guest

Guest (Expert)

07 February 2011 Nothing wrong. However you can get rebate u/s 89 of arrears relating to earlier years.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now