Relief u/s 89(1) for arrear salary simplified with Excel Tool !Download it.

Central and State govt employees pay were revised in recent past on account of Sixth Pay Commission . So all govt. staff received lots of arrear payments for which now they are going to file return of Income . Naturally , one of the central concern among them is whether any  relief  from high tax on account arrear payments they received during FY 2009-10  are available. Yes, … [Read more...]

What Deduction is Allowable For Persons Spending on Relative Suffering From Cancer ?

Can any Govt. staff member's Medical Reimbursement of Blood Cancer of son should deducted from income tax? Is there any tax exemptions for the same? Pandit Shashank , KolahpurYes, u/s 80DDB a person who spends on his spouse, children, parents, brothers and sisters of the individual or any of them who are  suffering from malignant cancer or hemophilia or thalasaeimia  can … [Read more...]

Is Children Education Allowance Taxed Twice?

Why children education allowance  is taxable ? The amount expended on Children Edu is paid from salary and taken into account for tax calculation, again when the same amount considered as income when it is reimbursed as CEA? Earlier RTF was also considered in the same way. F Saxena, KatniChildren Education allowance is not taxed twice . All allowance is taxable income … [Read more...]