tds files (179 Points)
23 January 2019I got PRC Arrears of Rs.100000/- today and that Arrears relating to F.Y.2014-15, Now i want to claim that Arrears as per Sec.89(1). My Query is, For F.Y.2014-15 i am not file Income Tax Return. So can i Claim that Arrears as per Sec.89(1) in A.Y.2019-20?
Sarath Rajendran
(Nil)
(2791 Points)
Replied 23 January 2019
You can claim 89(1)
But avoiding interest you must pay advance tax on your arrear and claim it as refund by 89(1)
CA. Umesh kumar
(ca.umesh11@gmail.com)
(1465 Points)
Replied 27 January 2019
How much was your total income during FY 2014-15 ? and how much your total income during ay 2019-20 ? IF total income during ay 2019-20 is much higher than fy 2014-15 then it will be beneficial for you to claim relief under section 89(1). Even if you not filed itr for fy 2014-15 you can claim relief.
CA umesh kumar- 9717597230
Sarath Rajendran
(Nil)
(2791 Points)
Replied 28 January 2019
If your income less than the exempted limit you no need to file return for that period to claim 89(1) deduction in the Current AY.
Amit Kumar Bansal
(Job/Blogger)
(688 Points)
Replied 16 June 2019
Yes, But filling form 10E u/s 89(1) is very tricky, handle the form carefully Refer complete Guide u/s 89(1)
CAclubindia
