bankers received salary arrears of three years , it can be bifurcated to previous years.
can we invest under 80c for previous years ???
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
Mahender Singh
(STUDENT)
(147 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???
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)
(147 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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