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Example:-During the previous year ending 31st March, 2013, X, a salaried employee received ₹ 10,67,000 as basic salary and ₹ 20,000 as arrears of bonus of the financial year 1992-93. During the previous year 1992-93, X has received ₹ 50,000 as salary. X deposits ₹ 1,500 (during 1992-93) and ₹ 10,000 (during 2012-13) in PPF.

Dated:- 11-8-2015 - Chapter No. 29 - Salary - Relief if Salary is received in Arrears or in Advance - Section 89(1) Particulars Taxable income and tax liability on receipt basis Taxable income and tax liability on receipt basis 2013-14 1993-94 2013-1 .....

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duction us/ 80C 10,000 Nil 10,000 Nil Net income 10,77,000 38,000 10,57,000 58,000 Tax on net Income 1,53,100 2,000 1,47,100 6,800 Less: Rebate u/s 88 Nil 300 Nil 300 Tax 1,53,100 1,700 1,47,100 6,500 Add: Surcharge Nil - Nil - Tax and Surcharge 1,53 .....

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