11/03/2014

INCOME TAX RELIEF UNDER SECTION 89(1) WITH CALCULATOR FOR F.Y. 2013-14

RELIEF UNDER SECTION 89  
Where by reason of any portion of an assessee’s salary being paid in arrears or in advance or by reason of his having received in any one financial year, salary for more than twelve months or a payment of profit in lieu of salary under section 17(3), his income is assessed at a rate higher than that at which it would otherwise have been assessed, the Assessing Officer shall, on an application made to him in this behalf, grant such relief as prescribed. The procedure for computing the relief is given in rule 21A. This relief is called relief u/s 89(1). 
 
We have uploaded Calculator to calculate relief Under section 89(1) of the Income Tax Act, 1961 in respect of Arrears of salary received during the financial year 2013-14 or any of the prior years. 
 
This will support the arrears received for last 5 financial years and support the income of financial year 2006-07 to 2013-14.
 

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