Recovery of excess paid arrears.

This query is : Resolved

v v rao (Querist)
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07 February 2011 Arrears were paid in the previous year and tax was recovered.

Now it is found excess payment and recovery is arranged in instalments spreading over 3-4 years.

Now the questions are :

1. How the recoveries are shown in the current assessment?
2. How the income tax recovered in lump sum during last assessment year gets adjusted?

K V Subba Rao

K V Subba Rao (Expert)
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07 February 2011 Please check the following link

http://in.answers.yahoo.com/question/index?qid=20100928210443AABMxq2

Guest

Guest (Expert)

07 February 2011 Nothing wrong. However you can get rebate u/s 89 of arrears relating to earlier years.

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