Taxation – Section 89(1)

Q & A ForumCategory: Tax PlanningTaxation – Section 89(1)
Saurabh asked 10 years ago
Hi, My query is related to the relief provided under section 89(1). As per the articles that i see on internet, it is mandatory to fill form 10E if i have claimed rebate under section 89(1). I have following queries:
  • Do i need to fill all the annexures provided along with form 10E on the efilling portal of govt. As per my understanding, i just need to fill anexture1 to claim relief with regards to arrear
  • I need to fill form 10E before submitting return or after submitting return
  • Can you provide some tool to calculate the relief that i can claim. I could see one excel calculator provided at this link. But it seems this calculator is not considering the arrear for fy 2015-2016.
Saurabh replied 10 years ago

One more query – On the govt e-filling portal, where Table A of form 10E, we have to provide details of arrears under different year. As per the portal we should mention the assessment year there, but all per the different calculators provided (like the one on simpletax.com), we should provide financial year. Please advise

3 Answers
Sreekanth Staff answered 10 years ago
Hi, One needs to file Form 10E before filing the Income Tax Return. If you have received the arrears for Fy 2015-16 then you need to file Form 10E before you file your AY 2016-17 ITR. Regarding calculations, I do not have the required expertise to share my inputs. As of now, I do not have sufficient knowledge and also do not have real time experience on this topic. You may kindly consult a CA.
Saurabh answered 10 years ago
Hi Sreekanth, thanks for the response. As far as calculations are concerned, i am pretty much OK.  I have only one doubt. In the TABLE A of form 10E, we should specify assessment year or financial year.(col Previous years)
Sreekanth Staff answered 10 years ago
Hi, It is FY (Financial Years).
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