income tax relief u/s 89 on v.r.exgratia
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 August 2011
Is Income Tax rebate u/s 89(1) is available on V.R.Exgratia? If so, how can the exgratia be distributed/allocated into different financial years.
18 August 2011
Section 89 (1) cover the payment received of arrears due and distribute the amount as per the tax slave for the financial year to which the amount is related.
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18 August 2011
Retirement benefit is calculated on number of years service and according to the number of years divide it equally and add it to the gross salary already distributed or paid for 89 relief.
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