Relief on Perquisites

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the company has given arrears of perquisites in the previous year but not deposited STT on accrual basis is relief us-89(1) can be claimed by the assessee in this P.Y.

AI Summary

Can Section 89(1) Relief Be Claimed for Arrears if Securities Transaction Tax Wasn't Deposited Accrually? A query was raised regarding whether relief under section 89(1) of the Income Tax Act can be claimed when a company provided arrears of perquisites in the previous year but did not deposit Securities Transaction Tax (STT) on an accrual basis. The discussion seeks to clarify the applicability of this relief in the current financial year under these circumstances.