India - Income Tax Act 2010 - Saarc

S. 89A I.T. ACT, 1961 1.5249[(3) No deduction under this section shall be allowed in, or after, the assessmentyear beginning on the 1st day of April, 2009.]Explanation.—For the purposes of this section, the expressions, “taxable securitiestransaction” and “securities transaction tax” shall have the same meaningsrespectively assigned to them under Chapter VII of the Finance (No. 2) Act,2004.]B.—Relief for income-tax]10[Relief when salary, etc., is paid in arrears or in advance.89. Where an assessee is in receipt of a sum in the nature of salary, being paidin arrears or in advance or is in receipt, in any one financial year, of salaryfor more than twelve months or a payment which under the provisions of clause(3) of section 17 is a profit in lieu of salary, or is in receipt of a sum in the natureof family pension as defined in the Explanation to clause (iia) of section 57,being paid in arrears, due to which his total income is assessed at a rate higherthan that at which it would otherwise have been assessed, the Assessing Officershall, on an application made to him in this behalf, grant such relief as may beprescribed 11 :]12[Provided that no such relief shall be granted in respect of any amount receivedor receivable by an assessee on his voluntary retirement or termination of hisservice, in accordance with any scheme or schemes of voluntary retirement or inthe case of a public sector company referred to in sub-clause (i) of clause (10C) ofsection 10, a scheme of voluntary separation, if an exemption in respect of anyamount received or receivable on such voluntary retirement or termination of hisservice or voluntary separation has been claimed by the assessee under clause(10C) of section 10 in respect of such, or any other, assessment year.]Tax relief in relation to export turnover.89A. [Omitted by the Finance Act, 1983, w.e.f. 1-4-1983. The provisions of thissection were later substituted by scheme contained in section 80HHC,inserted by the Finance Act, 1983, w.e.f. 1-4-1983. Originally section 89A wasinserted by the Finance Act, 1982, w.e.f. 1-6-1982.]9. Inserted by the Finance Act, 2008, w.e.f. 1-4-2008.10. Substituted by the Finance Act, 2002, w.r.e.f. 1-4-1996. Prior to its substitution, section 89was amended by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971, the Direct TaxLaws (Amendment) Act, 1987, w.e.f. 1-4-1988 and the Finance Act, 1988, w.e.f. 1-4-1989.11. See rule 21A for rules for computation of relief. See rule 21AA and Form No. 10E forprescribed particulars for claiming relief under section 89.See also Circular No. 331, dated 22-3-1982 and Circular No. 431, dated 12-9-1985. Fordetails, see Taxmann’s Master Guide to Income-tax Act.For relevant case laws, see Taxmann’s Master Guide to Income-tax Act.12. Inserted by the Finance (No. 2) Act, 2009, w.e.f. 1-4-2010.