Mr.X Received Salary for F.Y2021-22 of Rs.986847 and Arrears for F.Y 2019-20 Rs.112548 and F.Y 2020-21 138478.
My Questions is
1) is Arrears Salary taxable in the hand of the assessee in the receipt of the year
2)is there any exemption available?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194848 Points)
Replied 29 December 2022
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 29 December 2022
Arrears of salary either basic or DA will be taxable in the year of receipt.
You may get 1/3 of tax on arrears as relief ( Approximately)
How much was the taxable income for 2019-20 FY and 2020-21 FY ?
You may get 1/3 of tax on arrears as relief ( Approximately)
How much was the taxable income for 2019-20 FY and 2020-21 FY ?
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