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I have got one lac and fifty thousands rupees as arrears of last 5 years In this amount 1 lac is principal and fifty thousand rupees is as interest can I divide only principal amount in last 5 years according 10e not interest
Replies (5)
Interest over last five years can be claimed only by revising the earlier filed returns (possible only for two years).......... but not u/s.89.
Can principal amount be divided into the last 5 years
Principal amount is capital receipt !!! Not taxable, why to bifurcate?
Sir I got 150000 Rs as arrears for last five years in this finance year in this amount 1lac is principal amount and fifty thousands is as interest how can I bifurcate it
You have to pay tax over interest amount of 50K, under IFOS, in the year of receipt. Cannot bifurcate now.
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