Income Tax Relief under Section 89 of Income Tax Act – Income Tax Relief under Section 89 of Income Tax Act – GConnect Calculator to determine IT Relief for Arrears of Income from Salary received in 2016-17
Section 89 of Income Tax Act provides for Relief of Tax for the salary income received as arrears by distribution of the same to relevant previous years
GConnect online Calculator to estimate Income Tax Relief under Section 89 of IT Act in respect of arrears of pay received in the year 2012-13: I have received arrears of pay this year as a result of one time increment granted by govt this year for employees received increments from Feb-06 to Jun-06 in the pre-revised Scale – Should I have to pay income tax for the same? Is there any exemption?
The lack of clarity over taxation of arrears that government employees will receive following the implementation of the 6th Pay Commission recommendations has finally cleared. The tax on first installment will be deducted in the current fiscal and that on the second installment will be deducted next year when they receive the actual payment. Confusion […]