RELIEF U/S 89(1)

This query is : Resolved

Sowmya.S.Balan

Sowmya.S.Balan (Querist)
Follow

28 May 2020 ASSESSEE, A GOVT.EMPLOYEE RECEIVED ARREARS OF SALARY FOR FY 2015-16, 2016-17, 2017-18, 2018-19 IN FINANCIAL YEAR 2019-20. PF OF 100000 IS DEDUCTED DIRECTLY BY THE TREASURY EACH YEAR. ASSESSEE HAS NOT CLAIMED ANY 80C DEDUCTION DURING THE RESPECTIVE YEARS WHILE FILING INCOME TAX RETURN. FOR 10 E CALCULATION , ARREARS OF PF CAN BE SPREAD OVER RESPECTIVE YEARS AND CLAIMED .IS IT POSSIBLE ? OR PF CAN CLAIMED IN THE YEAR OF PAYMENT ONLY ? IF POSSIBLE TO CLAIM IN THE YEAR OF PAYMENT ONLY, WHAT BENEFIT WILL GET TO ASSESSEE? ANY FAVOURABLE CASE LAWS

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
Follow

28 May 2020 1. Get the arrears breakup with respect to all the financial years. Since PF is contributed by the Organization and the employee, the monthly details of the PF amount of Rs.1.00 lakhs spread over the years can be availed

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
Follow

28 May 2020 2. And yes, the tax benefit on PF can be mentioned, spread over respective years and the benefits claimed.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

28 May 2020 PF benefits can be claimed in the year of payment only.
Earlier not claimed PF benefits can be claimed now'.

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SARAVANAN PALANISAMY

Vishnu Agarwal

SHUBHANGI GOEL

Shivchandra Jakhotia

CA Lalit Kumar Agrawal

Subscribe Now

RELIEF U/S 89(1)

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA