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Section 89

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 July 2012
A person will get arrear of Rupees 12,00,000 in this month. i.e. July 2012. He will get areear of 12 year i.e. from 2001. Employer say that they will deduct PF amount on that arrear according to that particular year. Means 2001,2002 so on, up to 2012, they will deduct pf amount. Now the question is that assessee can get deduction u/s 80 c but with a limit of 1,00,000., Now say, that can assesse take claim u/s 89 of that pf amount accroding to section 80 c of that particular year.
for example in 2005 suppose 80 c maximum limit was 100000 but assesse got only 50000 according to that year. so now can he get remaing 50000 deduction relief according to that year.
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 July 2012 No. The case laws suggest that PF deduction be taken on payment basis that is in the financial year 2012-13.
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