Dears,
IS there any calculating tool available for determining correct value for Relief u/s 89?....EXCEL Format or any tool...
one of the assessee is in receipt of Gratuity of Rs.55221 and his income including gratuity is arooud 8000000 so he is liable to pay tax on his income, however i heard about sec.89 relief could any one help me out in finding relief for the same u/s 89.
Regards,
Pragnesh
No tool in ITR. Arrive at the relief in this manner,
Step 1 - In Current previous year - Difference between Tax on Total income including & excluding Gratutiy
Step 2 - In Prior Previous year(year which Gratuity belongs to) - Difference between Tax on TI incl & excl Gratuity. If belongs to various previous year. Identify separately
Step 3 - Step 1 Less step 2
CAclubindia
