Section 89 relief as per income tax act
This query is : Resolved
SANJAY G.PATIL
(Querist)
07 February 2016
How to calculate relief under section 89 when salary is received in arrears.?
Ashish Bansal
(Expert)
11 February 2016
You need to make two columner comparison for the year of income and year of receipt. Compare the tax due in both the years as per prevailing income tax rates. The excess amount of tax in the year of receipt may be claimed as relief u/s 89(1). You may calculate the same with excel utility available on follwoing link.
https://www.caclubindia.com/share_files/tax-calculation-and-section-89-1-calculation-from-f-y-1985-66637.asp
https://www.caclubindia.com/share_files/tax-calculation-and-section-89-1-calculation-from-f-y-1985-66637.asp
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