1Where an assessee is in receipt of a sum in the nature of salary, being paid in arrears or in advance or is in receipt, in any one financial year, of salary for 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 nature of 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 higher than that at which it would otherwise have been assessed, the Assessing Officer shall, on an application made to him in this behalf, grant such relief as may be prescribed:
2 Provided that no such relief shall be granted in respect of any amount
received or receivable by an assessee on his voluntary retirement or termination
of his service, in accordance with any scheme or schemes of voluntary retirement
or in the case of a public sector company referred to in sub-clause (i) of
clause (10C) of section 10, a scheme of voluntary separation, if an exemption in
respect of any amount received or receivable on such voluntary retirement or
termination of his service or voluntary separation has been claimed by the
assessee under clause (10C) of section 10 in respect of such, or any other,
assessment year.
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1. Subs. by Act 20 of 2002, s.38, for section 89 (w.e.f. 1-4-1996). Earlier section substituted by42 of 1970, s. 23 (w.e.f. 1-4-1971).
2. Ins. by Act 33 of 2009, s. 39 (w.e.f. 1-4-2010).
Section 87 Rebate to be allowed in computing income-tax
Section 87A Rebate of income-tax in case of certain individuals
Section 88 Rebate on life insurance premia, contribution to provident fund, etc
Section 88E Rebate in respect of securities transaction tax
Section 89 Relief when salary, etc., is paid in arrears or in advance
Section 90 Agreement with foreign countries or specified territories
Section 91 Countries with which no agreement exists
Section 92 Computation of income from international transaction having regard to arms length price