kanhaiya (Article Assistant) (33 Points)
09 September 2010Hi
Can any one tell me how to compute relief under section 89(1).
Further one of my client receive Rs 148821 as arrers of salary for the year 2000-01 in the year 2007-08.Now how much amount he is eligible to claim under the above said section if he has investment of rs 10000.His income for the year 2007-08 is 226609 besides that.
Vicky
(CA, LCS,MCOM,)
(136 Points)
Replied 10 September 2010
1......compute the tax payable for the year 2000-01 (without considering arrears of salary)
2.... compute the tax payable for the year 2000-01(after considering arrears of salary)
3........calculate(2-1)
4.....calculate the tax payable for the year 2007-08(without considering arrears of salary)
5........calculate the tax payable for the year 2007-08(after considering arrears of salary)
6........calculate(5-4)
7.releif u/s 89(1)=(6-3)
CAclubindia
