Arrears of previous years received in fy 2017-18

Tax queries 254 views 4 replies

G Ramesh

agm

27 Points Posted on 22 July 2018

Hi, This is my first post in this forum, please correct me if necessary. I am salaried person and my query is

" I have received 2010-11, 2011-12 and 2015-16 arrears in the FY 2017-18 along with regular salary

Also I applied for EL encashment and

Interest on FDs received.

As a result my total income exceeded 50 lakhs ( About 50.78lakhs) and I have to pay surcharge.

Is it possible to show the arrears in the respective previous years so that my total income does not cross 50 lakhs?

Replies (4)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

211715 Points Posted on 22 July 2018

" Is it possible to show the arrears in the respective previous years?"

Yes, definitely.

You can get rebate u/s. 89(1) of IT act, for arrears of salary.

You can calculate the difference of tax relief, ......... fill form 10E and upload the same along with ITR

G Ramesh

agm

27 Points Posted on 22 July 2018

Originally posted by : Dhirajlal Rambhia
	" Is it possible to show the arrears in the respective previous years?" Yes, definitely. You can get rebate u/s. 89(1) of IT act, for arrears of salary. You can calculate the difference of tax relief, ......... fill form 10E and upload the same along with ITR

G Ramesh

agm

27 Points Posted on 22 July 2018

Thanks a lot Sir for the reply.

But two days back when I approached a CA he said as per latest rule it is not possible to show arrears in previous years and you have to pay full tax.

As per your reply it is possible.

I think I have to take the help of a CA to complete the process.

G Ramesh

agm

27 Points Posted on 26 July 2018

Originally posted by : Dhirajlal Rambhia
	" Is it possible to show the arrears in the respective previous years?" Yes, definitely. You can get rebate u/s. 89(1) of IT act, for arrears of salary. You can calculate the difference of tax relief, ......... fill form 10E and upload the same along with ITR