Tag: arrears of salary

Relief under section 89(1) | Filing form 10E FY 2024-25 free Excel

Admin
Relief under section 89(1) - Filing form 10E

What is Relief under section 89(1) and filing form 10E? Relief under Section 89(1) applies to the Assessee having Income from Salary. Which is claimed by filing Form 10E. This applies only under the head ‘Income from Salary’. Salaried employees receive their salary on a regular basis, which is taxed based on the accrued or received amount. Sometimes, employees may also receive salary arrears for past periods. This usually happens when a pay commission revises salaries or due to other reasons. When the salary is received in arrears, it is…

Continue Reading.....

Relief under Section 89(1) on Arrears of Salary FY 2020-21 – Excel Download

Admin
arrears of salary, relief under section 89(1)

What is Arrears of Salary? An employee may get the past year/s salary in the current year. This may be due to revision of salary from past year/s or may be due to restructuring of salary from past year/s or may be due to any other reason. The Arrears of Salary (past dues) are received in the current year along with the current period’s salary. For example, An employee receives the normal salary of Rs. 12 lakhs for the year 2020-21. And also receive salary of Rs. 1.60 lakhs say,…

Continue Reading.....

Relief under Section 89 (1) on Arrears of Salary – Excel Download

Admin
arrears of salary, relief under section 89

Normally Salary is received when it gets due. But sometimes in a year the Arrears of Advance salary may be received & gets Taxed in the year of receipt. In such a case, Section 89 (1) provides to claim Tax Relief on the Arrears of Salary received in the current year, which does not pertain to the current year. Form 10E should be filled online before filing the Return of Income. Example: Salary received in FY 2019-20 along with Arrears. The entire current year’s salary plus arrears of salary gets…

Continue Reading.....