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 )
| 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
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.
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