Exempted arrear perquisite related to earlier years wrongly included in total slary income .

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  1. Rabi Sengupta

    Rabi Sengupta New Member

    Respected sirs,
    The assesses is an working with a PSU. In the financial year 2013-14, the company has issued the Form 16 wherein the value of perquisite of earlier years totaling to Rs 467522 over a period of 6 years has been considered as income of the financial year of 2013-14 accordingly the tax has been calculated and collected from the concerned employee. this perquisite were totally exempted as the value of the perquisite per year was below Rs 100000/-.. the company has also issued a certificate showing therein the value of perquisite of each financial year. Moreover, the company has not considered the value of perquisite in the total income for the financial year 2013-14 as the value is less than Rs 100000/-. As a result the assesses has to pay an additional tax to the tune of Rs 140000( approx).
    The Assesses has accordingly submitted the I.T return for the financial year 2013-14 within the due date based on Form 16 through E.filing . The assessing officer has assessed the said I.T return showing no demand no claim for the financial year 2013-14. the assessment order was issued on 3rd November, 2014.
    Under the above circumstances please advise what are the remedies available to the assesses for refund of the excess tax paid.
    Further the arrears perquisite relates to employer's contribution to wards post retirement benefit scheme ( PRBS) , an Approved superannuation fund,have been made by the employer
    with regards.
    Last edited: Mar 21, 2015
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