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About bifurcation of bank salary arrears

Mahender Singh (STUDENT) (142 Points)

30 December 2020

bankers received salary arrears of three years , it can be bifurcated to previous years.

can we invest under 80c for previous years ???

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4 Replies

Smit Shah (524 Points)
Replied 30 December 2020

Salary in arrears is taxable in the year in which it is received and also you can get relief us 89 hence 80c deduction can be talen in current year not from previous year

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Mahender Singh (STUDENT) (142 Points)
Replied 30 December 2020

If I not use section 89 and
includes arrears in current year salary and file return in regular way. will it be ok???

Balamurali Unnithan MS (STUDENT) (1631 Points)
Replied 30 December 2020

Salary is taxed , on due or received whichever is earlier ...

Mahender Singh (STUDENT) (142 Points)
Replied 30 December 2020

So I can treat whole salary as current year salary and can do investment to save tax according to increased income due to arrears??

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