I HAVE RECEIVED ARREAR OF SALARY FOR THE YEAR 2006-07& 2007-08 FOR RS. 60000/- IN FINANCIAL YEAR 2008 -09. THIS ARREAR GOES TO GPF A/C AS PER GOVERNMNET G.O.. HOW I CAN COMPUTE MY TAXABLE INCOME. I AM CONSFUSED ON GPF AMOUNT IS IT WILL BE DEDUCTIBLE UNDER SECTION 80-C OR I CAN TAKE RELEIF 89 ( 1 )
2 Replies
CA CS VINAYAK PATIL
(CHARTERED ACCOUNTANT)
(921 Points)
Replied 19 February 2009
| Originally posted by :amar preet singh | ||
| " | I HAVE RECEIVED ARREAR OF SALARY FOR THE YEAR 2006-07& 2007-08 FOR RS. 60000/- IN FINANCIAL YEAR 2008 -09. THIS ARREAR GOES TO GPF A/C AS PER GOVERNMNET G.O.. HOW I CAN COMPUTE MY TAXABLE INCOME. I AM CONSFUSED ON GPF AMOUNT IS IT WILL BE DEDUCTIBLE UNDER SECTION 80-C OR I CAN TAKE RELEIF 89 ( 1 ) | " |
u can take releif
LAXMIKANT JAIPURKAR
(Practicing Company Secretary/Tax Consult)
(403 Points)
Replied 19 February 2009
The arrears of salary received is to be shown in Income from Salaries and again we have to take relief u/s 89(1) as it is deposited into GPF.
Recent Topics
- ITR 2 validation
- Interest u/s 234B & 234C charged despite being
- Deduction for leave encashment 10AA
- Inadvertently filled and filed Form 10-IEA like la
- Delivery challan e-way bill
- LTCG Section (B1-B12) for RSU Sale after Jul/24
- Regarding Hackathon Prize W-8BEN India-US Tax Trea
- Digital1234
- Unable to claim Deduction in ITR 2 u/s 80 CCD(2)
- FDI-FEMA-Interest on Loan to Mauritius based wholl
Related Threads
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
