Sunday, August 22, 2010

89(1) relief calculator arrears received in Fy 2010-11


on Sunday, August 22, 2010

In current year(FY 2010-11) arrears of salary has been paid to many Bank and Govt. employees.This years is related to Fy year 2005-06 to Fy 2009-10.As per Income Tax act,Employee can claim relief u/s 89(1) relief for arrears of salary ,by bifurcate his/her income in the respective years for which income relates to. Calculation of89(1) is arithmetic only but yet its calculation is difficult for many assessee due to not availability of Old tax rates etc etc.so I have prepared a 89(1) relief tax calculator for arrears received in Fy 2010-11
This calculator can be used by the following persons

  1. If you have received arrears of salary in FY 2010-11 and .
  2. Arrears is related to any where  period 2005-06 Fy to 2009-10 not necessarily falls in all the years.
  3. You have  not earned any long term capital gain in any of the above stated years .
Calculator is very simple to use ,u have to fill only yellow cells in the calculation sheet .To use it kindly "click on edit"button
Note:This calculator is not available for download yet ,but will be made available for download ASAP.

Note :For arrears received in 2009-10Fy,2008-09 Fy calculator is available here .
Specified DDO CAN ALLOW RELIEF U/s 89(1)
Following employer may allow benefit u/s 89(1) if claimed by employee.
1.company,
2.co-operative society,
3.local authority,
4.university,
5.institution,
6.association or body
7.Govt State or center
8.Public sector undertaking

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