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Deductibility of excess salary paid in earler years from this years income
a sum of rs.2.34 lacs has been recovered from my taxable salary paid in fy 20-21. the deduction was on account of excess salary paid in earler years arising out of error in computing salary consequent to sixth pay commission recommendation
Replies (1)
The recovered excess salary is typically deducted from your current year's taxable income. Ensure your employer provides an official breakdown of this recovery. If you face a tax disadvantage due to the timing of this recovery, you should consult with a tax professional regarding potential adjustments or relief.
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