Relief u/s 89
This query is : Resolved
12 October 2010
The basic purpose of sec 89 is calculate the taxes on arrears based on cash basis or accural basis.
In cash basis you calculate the tax based on actual receipt of arrears.
Then , in accural basis the arrears are distributed between the year to which it relates.
Find out the tax by both the methods if as per cash basis tax is more , excess is deduction u/s 89
In cash basis you calculate the tax based on actual receipt of arrears.
Then , in accural basis the arrears are distributed between the year to which it relates.
Find out the tax by both the methods if as per cash basis tax is more , excess is deduction u/s 89
19 October 2010
THE RELIEF U/S 89 PROVIDES TO THE SALRY PERSONS AGAINST THEIR ARRIERS OF SALARIES. FIRST CALCULATE TAX LIABILITY ON CASH BASIS THN CALCULATE THE TAX LIABILITY ON ACCRUAL BASIS THE EXCESS OF TAX OF CASH BASIS IN COPARISION OF ACCURAL BASSIS SHALL RELIEF U/S 89
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