Relief u/s 89

This query is : Resolved

Sankar Chakraborty (Querist)
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08 May 2012 OUR DIRECTOR HAD TAKEN RS. 1.25 LAC AS ADVANCE AGAINST DIRECTOR’S REMUNERATION IN THE YEAR 2010-11 AGAINST HIS SALARY FOR THE YEAR 2011-12

IN 2011-12, THE ABOVE RS. 1.25 LAC IS ADJUSTED AGAINST REMUNERATION PAYABLE FOR THE YEAR 2011-12

MY QUESTION IS IT a case of RELIEF u/s 89 if yes please let me know how to calculate ?

please help

Guest

Guest (Expert)

08 May 2012 Ni it is not a case of releif u/s 89. Salary is taxable on recept basis in case of advance.

Sankar Chakraborty

Sankar Chakraborty (Querist)
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09 May 2012 sir,

was it taxable in the year 2010-11 ? we have paid tax for the same in the year 2011-12.

please guide

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Guest

Guest (Expert)

09 May 2012 Yes it was taxable in the year 2010-11.

Here the company has to pay tax for 2010-11