Regarding salary and arrears
This query is : Resolved
20 July 2016
Dear Experts,
You are requested to provide appropriate solution for my following query at the earliest.
Mr. A has taken VRS from SBI in the FY 2013-14. In FY 2015-16, he has received following income from State bank of India apart from his regular pension income;
1. Gratuity
2. Provident Fund
3. Arrears of Gratuity of FY 2013-14
4. Arrears of Provident Fund of FY 2013-14
5. Arrears of Leave encashment of FY 2013-14
6. Arrears of Salary of FY 2013-14
Could you please tell me from above incomes which will be exempt ? and which will be taxable ? And also give reference of relevant sections.
Thank you
You are requested to provide appropriate solution for my following query at the earliest.
Mr. A has taken VRS from SBI in the FY 2013-14. In FY 2015-16, he has received following income from State bank of India apart from his regular pension income;
1. Gratuity
2. Provident Fund
3. Arrears of Gratuity of FY 2013-14
4. Arrears of Provident Fund of FY 2013-14
5. Arrears of Leave encashment of FY 2013-14
6. Arrears of Salary of FY 2013-14
Could you please tell me from above incomes which will be exempt ? and which will be taxable ? And also give reference of relevant sections.
Thank you
21 July 2016
Gratuity- Exempted
PF -exempted
arrears on Gratuity -Exempted
Arrears of Leave encashment- taxable
Arrears on Salary - taxable
PF -exempted
arrears on Gratuity -Exempted
Arrears of Leave encashment- taxable
Arrears on Salary - taxable
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