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Relief U/s 89

Tax queries 420 views 1 replies

Dear Members,

I want to know whether relief u/s 89 available to the employees if they already got the benefit of relief in previous years.

Example

Assessment Year                                    2006-07         2007-08   2008-09   2009-10    2010-11   2011-12

Taxable income                                        120000         140000    180000     220000      260000    280000

Arrears                                                        18000           24000         30000       40000

Total Salary Receivable                         138000           164000     210000     260000

40% of the total Arrears received in 2009-10   (Rs. 40800)

30% in 2010-11  (Rs 30600)

30% in 2011-12  (Rs 30600)

I want to know the procedure of calculation of relief under these circumstances, If possible Please guide.

 

Thanking You

 

Manoj

 

Replies (1)

 

Show arrear as due date instead of receipt basis because you will not save tax. If you will show as receipt basis than you will come under20 % tax slab rates or according to due dates you will come under 10 % slab rates.


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