Online Tool for Income Tax Relief under Section 89 for 2014-15

Income Tax Relief under Section 89 – Online Tool for calculating IT Relief under Section 89 (1) of Income Tax Act for the year 2014-15

Section 89 (1) of Income Tax Act provides for Income Tax Relief in respect of Arrears of Salary (pay and allowances) received by an Income Tax Assessee.

Income Tax Relief will be allowed in the current year, if the said Arrears of pay is distributed to the previous years in which the pay and allowances concerned was actually due, resulting in lesser Tax liability than Income tax calculated including the total arrears with the current year taxable income.

Now, we have updated the Online Tool for calculating Income Tax Relief under Section 89 to calculate IT Relief for the arrears of pay received during the year 2014 -15

Click here to reach Online Tool for calculating Income Tax Relief under Section 89 (1)

Click here to calculate Income Tax for the year 2014-15 (Assessment Year 2015-16)

Previous Years and Current Year Income Tax rates

Year Male Female Seniors*** Rate
2005-06 Up to Rs 1 Lakh Up to Rs.1.35 Lakh Up to Rs.1.85 lakhs Nil
1,00,001 – 1,50,000 1,35,000-1,50,000 ———- 10%
1,50,001-2,50,000 1,50,001-2,50,000 1,85,001-2,50,000 20%
More than Rs.2,50,000 More than Rs.2,50,000 More than Rs.2,50,000 30%
2006-07 Up to Rs 1 Lakh Up to Rs.1.35 Lakh Up to Rs.1.85 lakhs Nil
1,00,001 – 1,50,000 1,35,000-1,50,000 ———- 10%
1,50,001-2,50,000 1,50,001-2,50,000 1,85,001-2,50,000 20%
More than Rs.2,50,000 More than Rs.2,50,000 More than Rs.2,50,000 30%
2007-08 Up to Rs.1.10 Lakh Up to Rs.1.45 Lakh Up to Rs.1.95 lakhs Nil
1,10,001-1,50,000 1,45,001-1,50,000 ———- 10%
1,50,001-2,50,000 1,50,001-2,50,000 1,95,001-2,50,000 20%
More than Rs.2,50,000 More than Rs.2,50,000 More than Rs.2,50,000 30%
2008-09 Up to Rs.1.50 lakh Up to Rs.1.80 lakh Up to Rs.2.25 lakh Nil
1,50,001-3,00,000 1,80,001-3,00,000 2,25,001-3,00,000 10%
3,00,001-5,00,000 3,00,001-5,00,000 3,00,001-5,00,000 20%
More than Rs.5 lakh More than Rs.5 lakh More than Rs.5 lakh 30%
2009-10 Up to Rs.1.60 lakh Up to Rs.1.90 lakh Up to Rs.2.40 lakh Nil
1,60,001-5,00,000 1,90,001-5,00,000 2,40,001-3,00,000 10%
3,00,001-5,00,000 3,00,001-5,00,000 3,00,001-5,00,000 20%
More than Rs.5 lakh More than Rs.5 lakh More than Rs.5 lakh 30%
2010-11 Up to Rs.1.60 lakh Up to Rs.1.90 lakh Up to Rs.2.40 lakh Nil
1,60,001-5,00,000 1,90,001-5,00,000 2,40,001-5,00,000 10%
5,00,001-8,00,000 5,00,001-8,00,000 5,00,001-8,00,000 20%
More than Rs.8 lakh More than Rs.8 lakh More than Rs.8 lakh 30%
2011-12 Up to Rs.1.80 lakh Up to Rs.1.90 lakh Up to Rs.2.40 lakh Nil
1,80,001-5,00,000 1,90,001-5,00,000 2,50,001-5,00,000 10%
5,00,001-8,00,000 5,00,001-8,00,000 5,00,001-8,00,000 20%
More than Rs.8 lakh More than Rs.8 lakh More than Rs.8 lakh 30%
2012-13 Up to Rs.2 lakh Up to Rs.2 lakh Up to Rs.3 lakh Nil
2,50,001-5,00,000 2,50,001-5,00,000 3,00,001-5,00,000 10%
5,00,001-10,00,000 5,00,001-10,00,000 5,00,001-10,00,000 20%
More than Rs.10 lakh More than Rs.10 lakh More than Rs.10 lakh 30%
2013-14 Up to Rs.2 lakh Up to Rs.2 lakh Up to Rs.2.50 lakh Nil
2,00,001-5,00,000* 2,00,001-5,00,000* 2,50,001-5,00,000* 10%
5,00,001-10,00,000 5,00,001-10,00,000 5,00,001-10,00,000 20%
More than Rs.10 lakh More than Rs.10 lakh More than Rs.10 lakh 30%
2014-15 Up to Rs.2.5 lakh Up to Rs.2.5 lakh Up to Rs.2.50 lakh Nil
2,50,001-5,00,000* 2,50,001-5,00,000* 2,50,001-5,00,000* 10%
5,00,001-10,00,000 5,00,001-10,00,000 5,00,001-10,00,000 20%
More than Rs.10 lakh More than Rs.10 lakh More than Rs.10 lakh 30%
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