incme tax
imran ahmed
(Querist) 26 December 2009
This query is : Resolved
Dear sir,
Gross salary of a person (Age 35) was Rs1,44,000 in financial year 2008-09. His income was not taxable so he did not file return . But in Financial year 2009-10, His gross Salary is Rs 2,40,000 and also he got arrear salary Rs 20,000 of F.Y.2008-09. He gets deduction u/s 80c Rs 30,000 in this F.y.20009-10.
how much tax will he pay and how much relief u/s 89 for arrear salary will he get.
please suggest me with comprehensive calculation of Relief u/s 89
Thanking you,
Imran Ahmed
Kolkata
A V Vishal
(Expert) 26 December 2009
Mr Imran your query is already answered.
soumitra basu
(Expert) 26 December 2009
The person has to submit form no 10E to his employer. The arrear salary should be included with the Salary of Financial Year 2008-09 and Tax of Rs. 1442 has to be paid for that financial year. For the current financial year the tax to be paid is Rs. 5150. Both the tax is inclusive of Education Cess. The person need not submit return for the Financial Year 2008-2009.
Vineet
(Expert) 27 December 2009
You have already got your answers. Why this repeated querry.
Vineet
(Expert) 29 December 2009
Dear Mr Imran this is with ref to message posted by you on my profile page.
As per facts given
Total income in AY 2010-11. Rs 230000 including arrear salary
Gross tax and surcharge Rs 7210
Incremental tax on arrears in current year Rs 2060
Incremental tax on arrears in last year Rs 1442
Therefore relief u/s 89 Rs 618
Net tax payable in current year 6592
Vineet
(Expert) 29 December 2009
Dear Mr Imran this is with ref to message posted by you on my profile page.
As per facts given
Total income in AY 2010-11. Rs 230000 including arrear salary
Gross tax and surcharge Rs 7210
Incremental tax on arrears in current year Rs 2060
Incremental tax on arrears in last year Rs 1442
Therefore relief u/s 89 Rs 618
Net tax payable in current year 6592
imran ahmed
(Querist) 29 December 2009
i think that you have not read my question properly
imran ahmed
(Querist) 30 December 2009
ok i have admitted my guilt.
Dear sir,
there is one very important question is that according to indian constitution , both men and women have equal right in all aspects. but why more income tax basic exemtion is given to women,
For Financial year 2009-10:
men - Rs 1,60,000
Women- Rs 1,80,000
imran ahmed
(Querist) 01 January 2010
Dear sir,
A person is working in Mnc. His all tax has been deducted from salary by way of tds upto 31.3.2009. There is no his tax liability upto 31.03.2009.
But he did not submit return by 31st July,2009.
Now he wants to submit return . will he pay interest u/s 234 for delayed submission of return
please suggest me
Vineet
(Expert) 04 January 2010
No interest is payable if tax liability has been discharged in form of TDS.
Vineet
(Expert) 04 January 2010
Under Indian Constitution it is not right to equality but it is right to equity (Equality among equals).
Hope this answers your query.
