Relief under section 89(1) for arrears of salary With Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from F.Y.2000-01 to F.Y. 2019-20 in Excel
Did you receive any advance
salary or arrears of salary? If yes, you might be worried about the
tax implications of the same. Do I have to pay taxes on the total amount? What
about the tax calculations of the previous year and so on? Taxpayers who have
such questions in their mind, here is all that you need to know.
By now, you would have already figured
out that income tax is calculated on the total income of a taxpayer for a
certain year. The income can either be in the form of salary or family pension
or other sources of income. However, there might be scenarios where you have
received arrears of family pension or pending salary during the
current fiscal year. It can happen that an income tax payer gets a part of his
profit or salary in advance or as arrears in any financial year, which
increases his total income thereby increase the payable taxes. In such a case,
an application can be made and the assessing officer can grant a relief to the
tax payer. To sum it up, the Income Tax Act ensures there is parity in the
income tax slab rates, and thus, when a portion of the income received does not
pertain to the current year, a relief is granted so that the taxable income
does not increase.
To ensure that you are not burdened
with paying additional taxes, the income tax department provides ReliefU/s 89(1). If you receive any pension or payments for the previous year, you
will not be taxed on the total amount for the current year. Essentially keeping
you away from paying extra taxes, because there was a delay in payment.
Download Automated Income Tax Arrears Relief Calculator U/s 89(1) with Form 10E from the F.Y. 2000-01 to F.Y.2019-20 in Excel.
To avail the benefits under Section
89(1) you would need to submit Form 10E. What is Form 10E would
be the most obvious question. The details of Form 10E, along with how and why
to submit the same is provided in detail below.
What is relief under section 89(1)?
When the taxpayer receives:
1.
Arrears of salary or
2.
Advance salary or
3.
Arrears of family pension
then such amount is taxable in the
Financial Year in which it is received.
However, relief under section 89(1) is
provided to reduce additional tax burden due to delay in receiving such
income.
How to calculate relief under section 89(1)?
Here are the steps to calculate relief
under section 89(1) of Income Tax Act, 1961:
1.
Calculate tax payable on total income including arrears
in the year in which it is received.
2.
Calculate tax payable on total income excluding arrears
in the year in which it is received.
3.
Calculate difference between (1) and (2).
4.
Calculate tax payable on total income of the year to
which arrears are related, including arrears.
5.
Calculate tax payable on total income of the year to
which arrears are related, excluding arrears.
6.
Calculate difference between (4) and (5).
7.
The amount of relief will be the excess amount of (3)
over (6). No relief shall be allowed if the amount of (6) is more than the
amount in (3).
Example on how to calculate relief under section 89(1)
Mr. A has total income of Rs.
6,00,000/- for Financial Year 2017-18 (Assessment Year 2018-19) and received
arrears of Rs. 1,50,000/- for Financial Year 2011-12 (Assessment Year 2012-13).
The total income for Financial Year 2011-12 is Rs. 2,00,000/-.
The relief will be calculated as
follows:
1.
Tax on total income of Rs. 7,50,000/- (Rs. 6,00,000+Rs.
1,50,000) including arrears for F.Y. 2017-18 is Rs. 64,375/- (as per rates
applicable for F.Y. 2017-18 i.e. A.Y. 2018-19).
2.
Tax on total income of Rs. 6,00,000/- excluding arrears
for F.Y. 2016-17 is Rs. 33,475/-
3.
Difference between (1) and (2) is Rs. 30,900/- (as
per rates applicable for F.Y. 2017-18 i.e. A.Y. 2018-19).
4.
Tax on total income of Rs. 3,50,000/- (Rs. 2,00,000+Rs.
1,50,000) including arrears for F.Y. 2011-12 is Rs. 17,510/- (as per rates
applicable for F.Y. 2011-12 i.e A.Y. 2012-13).
5.
Tax on total income of Rs. 2,00,000/- excluding arrears
for F.Y. 2011-12 is Rs. 2,060/- (as per rates applicable for F.Y. 2011-12
i.e A.Y. 2012-13).
6.
Difference between (4) and (5) is 15,450/-
7.
The amount of relief will be Rs. 15,450/- [excess
amount of (3) over (6)]
Download All in One TDS on Salary for Govt& Non-Govt Employees for the F.Y. 2019-20 With H.R.A. Exemption Calculation U/s 10(13A) + Automated Arrears Relief Calculator U/s 89(1) with Form 10E +Automated Revised Form 16 Part B and Form 16 Part A&B for F.Y. 2019-20
The feature of this Excel
Utility is the following:-
1) This Excel Utility can prepare automatic Tax Calculation as
per new Finance Budget 2019
2) The Salary Structure as per the All of Govt and Non-Govt(Private)
employee’s Salary Pattern
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee
5) This Excel Utility calculate your House Rent Exemption
Calculation U/s 10(13A)
6) Automated Income Tax Revised Form 16 Part A&B for F.Y.
2019-20 in New Format
7) Automated Income Tax Revised Form 16 Part B for the F.Y.
2019-20 in New Format
8) Automated Arrears Relief Calculator U/s 89(1) with Form 10E
from the F.Y. 2000-01 to F.Y. 2019-20
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