Sec 89 relief
This query is : Resolved
13 August 2020
One of my clients is a Bank Manager. He has received arrears of salary on an ad-hoc basis related to past years. The full amount is yet to be calculated by Bank which they will credit in the coming year only. Now the bank has not mentioned the AY/PY related to which the ad-hoc amount has been paid. In Form 16, the amount is shown as Other Income.
Kindly guide how can I claim sec 89 relief in the above scenario?
Kindly guide how can I claim sec 89 relief in the above scenario?
13 August 2020
In this case 89 relief can't be claimed. Treat it as current year salary and pay taxes. Claim 89 relief in the year of final settlement.
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