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Incometax on arrears to government servant
I received Rs. 25 lakhs as arrears amount from government. This arrears applicable from 2009 to December 2021. How much liability of income tax arise? What amount I invest as per it rules?
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Was the tax paid on the above in the past ?
If no tax paid in the past then maximum tax will be 25lacs* 31.2% = Around 8lacs
If no tax paid in the past then maximum tax will be 25lacs* 31.2% = Around 8lacs
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