in ITR 2 break up of salary like Basic Pay, DA, allowances etc are to be indicated. I have received arrears of salary on wage revision during FY 23-24 which includes arrears for FY 2022-23 & FY 2023-24. whether the arrears of salary received can be indicated as Lumpsum under others- Arrears of Salary in ITR-2 or break up of various elements of arrears like Basic pay, DA, Allowances etc are to be indicated. Santhanakrishnan
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Quick Summary
This discussion addresses how to correctly report salary arrears received in FY 2023-24 within ITR 2. The initial query asks whether to report arrears as a lumpsum under 'Others - Arrears of Salary' or to break down the components. The advice given is to report it as a lumpsum if Section 89(1) relief is not being claimed. A subsequent user shares a complex situation involving arrears being paid back from PF, resulting in a potential tax refund, and seeks guidance on rectifying TDS and claiming the refund.
Sir, I had received an arrear amount of salary Rs 511785 during May 2023 and Rs 102357 was deducted for tax. Later the department treating the fixation as not in order taken back the arrear back from my PF settlement amount due to me during January 2024. Other than that I have received salary for March to June 2023 totalling about 4.5 lakhs and TDS of it Rs 24000 (6000 pm for 4 months) Now considering the fact that the arrear paid is refunded back my tax liability should be NIl. So please advise me of the correct remedy by me and the employer to claim refund amount of about Rs 1.26 lakhs Thanking in advance