One of my client received an increment from 2012 and received the amount was received in 2013 as arrears. There after the amount was included in regular salary and tax calculation was done as usual. This year the departmental audit found that the increment given was wrong and asked him to repay the amount which was received from 2012. He also repaid the amount 2,45,000 by DD to the treasury.
1) How to calculate tax liability?
2) What are the possible solutions?
1 Replies
M.R.Subramanian
(Technician)
(22 Points)
Replied 26 February 2019
It can be claim through rebate u/s 89, rebate should be calculate assuming the arrears amount taxed from previous year
Recent Topics
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
Related Threads
CAclubindia
