# interest income taxes
1 posts in `interest income taxes` tag
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Why Section 89 Grants Tax Relief on Salaries but Excludes Interest
Salary taxpayers who receive advance payments or arrears in one lump amount are eligible for relief under Section 89 of the Income Tax Act, which lessens the tax burden associated with switching to a higher tax band. However, interest income and other financial gains are not covered by this relief. This blog helps taxpayers with efficient compliance and tax planning by outlining the goals, restrictions, and application of Section 89.
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By Krishna
