Reg arrears of salary
This query is : Resolved
06 July 2013
Hi,
One of my uncle was working with 'Pal Peugeot Ltd'. The Company went into liquidation. In FY 12-13, he has received a sum of Rs. 10 lacs+ for arrears from Jul 98 to Sep 05. The amount contains arrears, retrenchment compensation, leave salary & gratuity. I am not sure about the taxability of this receipt. Can you please help me in this regard? Also do I need to file form 10E.
One of my uncle was working with 'Pal Peugeot Ltd'. The Company went into liquidation. In FY 12-13, he has received a sum of Rs. 10 lacs+ for arrears from Jul 98 to Sep 05. The amount contains arrears, retrenchment compensation, leave salary & gratuity. I am not sure about the taxability of this receipt. Can you please help me in this regard? Also do I need to file form 10E.
07 July 2013
Hi Mr.Amit,
Only arrear salary is taxable.You can also take the benefit of relief U/S 89 with retrospective effect.
Only arrear salary is taxable.You can also take the benefit of relief U/S 89 with retrospective effect.
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
- Traces Portal
- U/s.234E late fee- balated filing the TDS returns
- Capital Gain Incidents
- Rectification of TDS return - Sale of property
- Cheque bounce intimation letter
- Minor - PPF Rules Doubt
- Applicability of corporate governance provisions as per the SEBI LODR
- Form 121 of income tax
- Query for LTCG
- ERROR IN GSTR1 NO SUMMARY GENERATED
- Minor Aadhar card cancelled
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
