Poonawalla fincorps
Poonawalla fincorps

Arrears

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2014 Dear Sir,
Arrear receivable is Rs. 10 lac in three instalment, first installment of rs. 3.5 lk received in f.y 13-14. Next two installment will get in future.
My query is can i add total rs. 10 lk of arrears in previous years to which it belongs because in that year income is very low or i can add only rs. 3.5 lk.
In simple words my question is Arrers receivable in future (i.e remaining two instalment ) can be add today for f.y 13-14 year or when it will received so will be add then.
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
21 June 2014 It will be taxed in the year of receipt so do not worry about it. Pay tax when arrears will receipt by you.
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Rupesh Jain

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Rupesh Jain (Expert)
21 June 2014 if your arrear related to salary then you can claim the relief u/s 89 and make calculation of tax . I hope you can get relief u/s 89.
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