RELIEF ON INCOME TAX ON ARREARS OF OROP-2
1. There have been Many queries from our readers on as to how to work out relief on Arrears of OROP fourth installment, which had been received during the FY 2023-24 while filing the ITR for the current Assessment Year before 31st of Jul 2024
NOTE : Just to remind the readers not to delay filing your return this year as the
4. One can claim rebate to the extent what we would have paid had the arrears were received during the year to which they pertain to. This all done on line while filing the ITR by filling up Form 10-E. However first and foremost carry a check whether it will be of some benefit or not.
1. There have been Many queries from our readers on as to how to work out relief on Arrears of OROP fourth installment, which had been received during the FY 2023-24 while filing the ITR for the current Assessment Year before 31st of Jul 2024
NOTE : Just to remind the readers not to delay filing your return this year as the
Income Tax
department will charge you delay penalty of Rs 5000/- . It is no
Rocket
science but a
child’s play. It is very very easy to file the ITR on line, child's
play because
your data is
prefilled by the portal and all calculations are done automatically,
you
need to just put in
figures of your pension and income from other sources rest is
done
by the on line
software, do veryfy the figures as per interest certs received from
the
banks. Please refer
to our post on the same at "E
FILING ITR-1 ON LINE"
OR copy paste this in your browser http://signals-parivaar.blogspot.com/2018/07/e-filing-itr-1-on-line.html
3. The installments of OROP-2 lif pertain to the FY 2023-24 will add to your income hence the Tax. 4. One can claim rebate to the extent what we would have paid had the arrears were received during the year to which they pertain to. This all done on line while filing the ITR by filling up Form 10-E. However first and foremost carry a check whether it will be of some benefit or not.
5. It will be beneficcial only if in the previous years you were ina lower bracket.