once get arrears of 1 jan 2016 to 31 Dec 2018 of rs. 200000 . then it was split into 5 equal installments. how can I split 40000 to its specific period for rebate us. 89.
fy 2015-16
fy 2016-17
...
...
up to 2018-19
please give example
calculation of 10e
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Section 89(1)
Replies (2)
Quick Summary
Do one thing ,
i) calculate tax on the amount ( arrears received(total) + salary of the p.y).
ii) calculate tax on the amount of salary in the p.y.
iii) calculate tax on the amount of the individual years (salaries (arrears accrued to that year + salary of that year).
iv) calculate tax on the income of the individual years(without considering arrears).
Rebate = ( i-ii) - (iii-iv).
Tax is calculated after taking all the deductions available for that year.
I hope you understand.
i) calculate tax on the amount ( arrears received(total) + salary of the p.y).
ii) calculate tax on the amount of salary in the p.y.
iii) calculate tax on the amount of the individual years (salaries (arrears accrued to that year + salary of that year).
iv) calculate tax on the income of the individual years(without considering arrears).
Rebate = ( i-ii) - (iii-iv).
Tax is calculated after taking all the deductions available for that year.
I hope you understand.
Thanks sir
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