Clause 205 - Tax relief for arrears or advance receipts - Direct Taxes Code Bill, 2009

D-Tax credit for relief in respect of arrears or advance receipts Tax relief for arrears or advance receipts 205. (1) The Assessing Officer shall, on an application made to him by any person, grant such relief as may be prescribed, if- (a) the person is in receipt in any financial year of any arrears, or advance, of salary or family pension relating to any other financial year; or (b) the accumulated balance due to the person participating in an approved provident fund is included in his total income. (2) The relief referred to in sub-section (1) shall not be allowed in respect of any compensation received towards retrenchment or voluntary retirement.