Kotak e-Term Plan
Kotak e-Term Plan provides a high level of protection to your loved ones in your absence.
Kotak E-Invest Plan
Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs.
Kotak Guaranteed Savings Plan
Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality.
Kotak Lifetime Income Plan
Kotak Lifetime Income Plan gives you the security of your income continuing thru your life and in your absence throughout your spouse's lifetime!
Kotak Health Shield
Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability.
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As a rule, income tax applies to your total income earned or received in a financial year. However, there may be cases where you would have earned the income in another year and received it in a different financial year or got an advance salary. This income could either be salary, family pension, or any other source of earning. Such situations could impact your tax liability for the particular financial year. However, it is possible to save tax on salary arrears by availing benefits under Section 89(1).
Here is everything you need to know on how to save tax on salary arrears:
What is the relief offered under Section 89(1)?
If you receive:
The amount is taxable in the financial year it is received. However, Section 89(1) offers you the benefit to reduce your tax burden as per your salary arrears by following certain steps and fulfilling specific formalities.
How to calculate relief under Section 89(1) on salary arrears?
Once you know your tax relief, you need to file Form 10E online on the income tax e-filing portal by logging in to your account.
Important things to remember when claiming for tax relief on salary arrears
Salary in arrears can result in higher taxes than the actual tax liability. Being cautious and claiming tax relief correctly can help save tax on salary arrears.
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Kotak Group Secure One provides a comprehensive protection solution to enable your team members to protect their loved ones in the unfortunate event o...
Know moreKotak Assured Savings Plan is an affordable protection plan that enables you to accumulate wealth and strengthens your finances for the future.
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