Can you claim relief u/s 89 as well as exemption of Rs 5 Lakh from voluntary retirement compensation?

Print Friendly, PDF & Email

Under the voluntary retirement scheme, the retiree employee receives lump-sum amount which is tax exempt up to Rs 5 lakhs as per section 10(10C) of the I.T. Act. The lump-sum amount is in respect of his balance period of service. Such amount is in the nature of advance salary

This content is for annual and Semi Annual members only.
Log In Register

Comments are closed.