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arears calculation

05 January 2018

sir suppose last year my net income is 350000 in which 20000 is the arear amount of 2nd last year... so I have filed 10E.. in the present year if my net income is 450000 and again I have to file 10E then what is my net income the income which Is shown in form 16 450000 or after deducting 20000 for which I have filed 10E last year ( e.g 450000-20000=430000)

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8 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178334 Points)
Replied 05 January 2018

If you have any arrears received in current year that amount can be deducted for assessment, but not the one which has already been deducted last year !!!

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Satish Kumar (185 Points)
Replied 05 January 2018

thanks sir

Satish Kumar (185 Points)
Replied 05 January 2018

and sir what will be the net income for last year which will be entered in form 10E in current year...

Satish Kumar (185 Points)
Replied 05 January 2018

means actual income or minus arear

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178334 Points)
Replied 05 January 2018

Check your form 16. It clearly gives figures of current year salary and arrears of earlier years, if any. Once you have claimed arrears last year, that cannot be deducted again in current year.

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Satish Kumar (185 Points)
Replied 05 January 2018

sir u r ryt... I got it.. but m asking about the net income of last year...eg.
in FY 2015-16 I have got 20000 of fy 2014-15 as arear...so I have filed 10E.. the net income therefore of fy 2015-16 is 350000-20000=330000.now in fy 2016-17 I have got again 50000 as arears of last year fy 2015-16.net income for 2016-17 will be 450000(form 16)-50000=400000.now while showing the net income of previous year in form 10E what will be net income of previous year (fy2015-16) in which arear amount of 2016-17 will be added means 350000 or 350000-20000=330000 in which arear will be added in rows of form 10E