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.
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
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).
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