What is arrears in salary slip TCS?

Arrear Payment / Recovery: Amount payable or recoverable from the employee pertains to previous months. Arrears always refer to previous month’s payment or recovery and not for the current month.

What is meant by arrears in salary?

Arrears refer to payment for compensating the salaries left, which should have been paid earlier. Employees are paid arrears when they get a salary hike in one month but receive the amount in some other month. The due amount in this case which is paid at a later date is termed as arrears.

What is negative arrears salary?

It’s not negative salary it is the arrears that were given additionally in the previous month, to compensate those arrears it is deducted in the current month which is shown as -ve sign in the salary slip. Thus there is nothing called negative salary in the payslip.

How do you treat arrears of salary?

Things to remember when claiming relief on arrears:

1. Form 10E must be filed online.
2. Salary is usually taxable when it is due or when it is received, but in case of arrears, they are usually announced from a back date, which is why they cannot be taxed when due.
3. Submit Form 10E before filing your ITR.

Are arrears of salary taxable?

Things to remember when claiming relief on arrears: Salary is usually taxable when it is due or when it is received, but in case of arrears, they are usually announced from a back date, which is why they cannot be taxed when due. Submit Form 10E before filing your ITR.

How DA is calculated in TCS?

Calculation of Dearness Allowance

1. For Central Government employees: Dearness Allowance \% = ((Average of AICPI (Base Year 2001=100) for the past 12 months -115.76)/115.76) *100.
2. For Central public sector employees: Dearness Allowance \% = ((Average of AICPI (Base Year 2001=100) for the past 3 months -126.33)/126.33) *100.

What is PF arrears deduction?

PF Deductions On Arrears Arrears is the money that is owned by an individual that should have been paid earlier by the person. This can be due to various reasons. To sum it can be inferred that, the sum of your salary or profits that you earn is subjected to EPF while working in the organization.