ITR 1 salary return

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31 Points Posted on 21 December 2020
I received my sal of feb 19-20 as arrear in april 20(i.e a.y.2021-22). NOW can i simply subtract that arrear sal in itr of AY 2020-21. Kindly guide
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On 21 December 2020 at 00:50 Report
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This discussion addresses how to declare salary arrears received in a later financial year within ITR 1. The user received February 2019-20 salary in April 2020 (AY 2021-22) and is unsure whether to declare it in AY 2020-21 or AY 2021-22. While Section 89 offers relief for arrears, the advice leans towards filing in AY 2021-22. A key point raised is the discrepancy between Form 16 and Form 26AS regarding the declared salary and TDS, with the user questioning if they can reduce their declared income based on Form 26AS.

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Accountant
4533 Points Posted on 21 December 2020
In case of of arrears relief under section 89 is available. since the differences is only of one year I think you should ignore it,because there is not a lot difference in tax rates under income tax . so kindly file salary of February 19 20 received in April 20 as a income of previous year 20-21 in assessment year 21-22.
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On 21 December 2020 at 01:36
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31 Points Posted on 22 December 2020
But my form 16 shown 12 month salary how can i reduced Feb month salary from A.Y. 20-21
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On 22 December 2020 at 10:03
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Partner
1072 Points Posted on 23 December 2020

show it in itr of AY 2020-21

on accrual basis

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On 23 December 2020 at 12:04
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31 Points Posted on 23 December 2020
That means i need to pay tax on feb month salary ..
because due to receipt of feb month salary in april month , TDS is also deduct in april month
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On 23 December 2020 at 13:19
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Accountant
4533 Points Posted on 23 December 2020
Yep, file in AY 21-22
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On 23 December 2020 at 14:15
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31 Points Posted on 23 December 2020
But due to feb month salary added In ITR a.y. 2020-21 my return is shown tax payable because salary is taxable on accrual basis , due to that my retrun show tax payable
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On 23 December 2020 at 14:20
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Partner
1072 Points Posted on 24 December 2020

You cannot show income less than shown in your 26 AS.

You wrote as But my form 16 shown 12 month salary how can i reduced Feb month salary from A.Y. 20-21"

 

 

 

 

 

 

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On 24 December 2020 at 00:10
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31 Points Posted on 24 December 2020
My 26 As shown less amt from income shown in form 16 (l.e. My form 16 shown approx 8 lac salary including feb month salary but my 26 As shown approx 7 lac on which TDS is Deducted )
so now can i reduced income from form 16 because as per 26 as TDS is deducted only on 7 lac amount )
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On 24 December 2020 at 00:17

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