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Showing posts with label Automated Income tax Arrears Relief Calculator U/s 89(1) For f.Y. 2019-20. Show all posts
Showing posts with label Automated Income tax Arrears Relief Calculator U/s 89(1) For f.Y. 2019-20. Show all posts

Friday 1 November 2019


As per section 89(1) of the Income Tax Act, 1961 relief for income tax has been provided when in a financial year an employee receives a salary in arrears or advance. As per Rule 21AA of the Income Tax Rules, 1962, Form 10-E  has been prescribed for claiming the relief.

Thursday 22 August 2019


In the most recent Union Budget, an extra Income Tax exemption of Rs 1.5 lakh on affordable home Loan Interest has been declared. Another Section 80EEA will be presented under the IT Act.

According to the proposition, Tax Payers will get a most extreme tax break of Rs 3.5 lakh on home advances of up to Rs 45 lakh acquired up to March 31, 2020 (subject to specific terms and conditions).