Demand notice

482 views 1 replies

I am the employee of Rajasthan Vidyut Vitran Nigam ltd. I retired in Jan. 2014 and got amount of leave encashment in March 2014.

I had included the income in A.Y. 2014-15 and filled the return. However my employer deducted the TDS on the abovesaid sum and has shown as the income of A.Y. 2015 - 16.(as per 26 AS)

Now I got the demand notice from the income tax deptt. for the abovesaid sum.(although TDS has been deducted and has been shown as TDS for A.Y.2015-16)

My Question is....The above said amount is taxable in A.Y. 2014-15 or A.Y. 2015-16.....?

If it is the income of A.Y. 2014-15 how should I proceed for rectifing the abovesaid mistake(as my employer is not accepting his mistake)...

 

Thanks to all in advance...

Replies (1)

Dear sir

Leave encashment is a also taxable in your case for the financial year inwhich you had received.  You can login the incometax efiling web and file the rectification request u/s 154 of the Incometax act,1961 by finding the appropriate disallowances or deduction if any and the reason for the demand raised for the AY 2014-15  okay

 

SELVARAJ R

TAX ADVOCATE

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