If you are eligible for tax relief for salary received in advance or arrears, you must fill form 10E. This relief is available under Sections 89(1) and 192(2A) of the Income Tax Act, 1961. Show If read without Sections 89(1) and 192(2A), past salary received and salary received in advance can attract a higher rate of taxes. This is because the excess salary might push you to a higher tax slab. By filling the online form 10E in the income tax portal, you can claim tax savings under Section 89(1). This is done by assuming that the salary was received in the same year that was due. It is mandatory to fill out the online form 10E to claim the tax relief under Section 89(1) What is the Tax Relief Under Section 89(1)?If you are a taxpayer, the following types of income received in arrears (or in advance) will be taxable as if they were received in the same year.
You are enabled to claim reduced tax liability by filling the online form 10e in the income tax portal. How to Fill Form 10E on the Income Tax Portal?The process of filling the online form 10E from the income tax portal is fairly straightforward. There is no requirement to download form 10E online, as you are required to complete the form online. Steps to Fill form 10E:
If you haven’t created an account on the income tax portal, you can create an account with the necessary documents in this step.
The detailed particulars of the figures filled in subheads 4-7 will be filled in the respective annexures. Make sure to fill in amounts only on the subheads that are applicable for you.
Important Points About the Form 10EHere are some important facts about form 10E that you’ve to take into consideration:
We hope this post cleared all your queries surrounding Form 10E. If you are eligible for relief under section 89(1), make sure to take maximum advantage by filling form 10E in the online income tax portal. Happy savings! How do I enter Form 10E for relief?Follow the below steps to fill and submit Form 10E through online mode. Step 1: Log in to the e-Filing portal using your user ID and password. Step 2: On your Dashboard, click e-File > Income tax forms > File Income Tax Forms.
How do I update my 10E?Step 1: Log in to the e-Filing portal with user ID and password. Step 2: On Dashboard, click e-File > Income tax forms > File Income Tax Forms. Step 3: On the File Income Tax Forms page, select Form 10E. Step 4: Choose the Assessment Year (A.Y.) and click Continue.
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