Relief u/s 89 (1)
This query is : Resolved
13 February 2018
I RECEIVED SALARY ARREARS LAST 10 YEARS IN FY FY, HOW TO CALCULATE ARREARS TO GET RELIEF US 89 (1)
CAN I LESS HOUSING LOAN INTT/DEDUCTIONS/REBATE FROM SALARY
PL. GIVE DETAILS WITH EXAMPLE
CAN I LESS HOUSING LOAN INTT/DEDUCTIONS/REBATE FROM SALARY
PL. GIVE DETAILS WITH EXAMPLE
13 February 2018
Since in your case the the additional salary relates to more than one previous year,—
(i) the previous years to which the additional salary relates and the amount relating to each such previous year shall first be ascertained;
(ii) tax shall, then, be calculated on the total income of each such previous year as increased by the amount relating to such previous year ascertained under sub-clause (i)
(iii) Then calculate the difference of the tax paid and payable and that will be the amount of tax that you need to pay in the current year
(i) the previous years to which the additional salary relates and the amount relating to each such previous year shall first be ascertained;
(ii) tax shall, then, be calculated on the total income of each such previous year as increased by the amount relating to such previous year ascertained under sub-clause (i)
(iii) Then calculate the difference of the tax paid and payable and that will be the amount of tax that you need to pay in the current year
13 February 2018
See the link for calculator.
http://www.simpletaxindia.net/2018/01/89-1-relief-calculator-for-arrears-received-fy-2017-18.html
http://www.simpletaxindia.net/2018/01/89-1-relief-calculator-for-arrears-received-fy-2017-18.html
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