Accounting & Taxation
390 Points
Joined August 2014
Please Study the Attached Excel Sheet for understanding Concept of Relief 89(1) Calculation. Under this Sheet Red highlighted cells is question & solution is also given below in the excel sheet.
For Relief Calculation you need 3 things ie..
1) Taxable income & arear Now received of Previous Years.
2) Current year Salary.
3) Income Tax Slab Rates for Related years.
File 10E while claiming Releif 89(1).