Bifurcation of ota arreares received

n k s prasad (Querist) 20 September 2011 This query is : Resolved
sir

thanks, for reply.

sir, please explain through an example to bifurcate Rs.70120 (OTA arrears received in Jul 2011), so that it will be helpful necssary action coudl be taken.

sir, pl guide me if there is any formula for birfucation so that the same can be utilized amongst ourselves (employees) for claiming relief under section 89 (1)

thanking you

yours faithfully

nks prasad

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Guest (Expert) 20 September 2011
Dear Prasad,

You want bifurcation, but you have not mentioned to which years the arrears of OTA relate?

You have also not stated, with what reason the OTA amount remained undisbursed to the payee for previous years?

However, the following link may help you find your answer to your question and the process to bifurcate the income on account of OTA arrears:
http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2008ITAct/sec_089.htm