calculation income tax relief u/s 89(1)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 June 2010
Dear All
I am working in a ca firm . please help me how to calculate income tax relief u/s 89 (1)
I am working in a ca firm . please help me how to calculate income tax relief u/s 89 (1)
09 June 2010
Its main logic is:
calculate the tax liability for the previous years for which you have received arrears by including arrears amount with taxable income calculated on that year.
and
Calculate the tax liability for the current year by including arrrears in the current year.
The difference between tax amount on arrears for the current year and tax amount in arrears for the previous years will be the relief u/s 89(1).
If you are still in doubt, send once again the question with figures.
calculate the tax liability for the previous years for which you have received arrears by including arrears amount with taxable income calculated on that year.
and
Calculate the tax liability for the current year by including arrrears in the current year.
The difference between tax amount on arrears for the current year and tax amount in arrears for the previous years will be the relief u/s 89(1).
If you are still in doubt, send once again the question with figures.
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