Civil Procedure Code (CPC)

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adv.bharat @ PUNE (Lawyer)     29 May 2016

It return

I have got arearies of income form last year 2014-2015.

whether i have to pay IT on this income in this year 2015-16 on previous year.



 1 Replies

siddhartha sinha   30 May 2016

In the year of receipt i.e. this year. Additional info -if the taxpayer is required to pay any additional amount of tax (in the year of receipt) than what he would have otherwise paid, had he received the money in the year(s) that he was supposed to receive it, such additional tax need not be paid i.e. it can be reduced from the tax payable.it would also reduce the TDS on salary. Employees should indicate to the employer that a lower TDS needs to be deducted by way of furnishing Form No. 10E.

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