Tax on arrears u/s 89(1)
This query is : Resolved
17 January 2016
Section 89(1) of I.tax act.
For the lncome received in arrears, whether arrears are to be reduced by exempted incomes like transport allowance to the extent of 800 p.m.. Or gross amount of arrears received are to be entered in form 10E
17 January 2016
In Particulars Para 1(a) you have to mention the amount received as arrears. The allowances etc can be considered in the computation of Total Income of the respective assessment years.
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