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pradeep (Querist)
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13 October 2009 If the employee resigns before 3 years and pays Rs. 3 lakhs to the company, how will this amount be treated in the hands of the employee and employer? Will the employee get any benefit of Rs. 3 lakhs paid to the employer

Sreedhar Atchutuni ACA,GradCWA

Sreedhar Atchutuni ACA,GradCWA (Expert)
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13 October 2009 MY OPINION IS THERE WILL BE NO BENIFIT IN THE HANDS OF EMPLOYEE.

IN CASE OF EMPLOYER IT IS A REVENUE RECEIPT AND TAXABLE(SINCE SALARIES ARE REVENUE EXPENDITURE THIS RS.3 LAKHS WILL BE CONSIDERED AS REVENUE RECEIPT).[SEC 28(iv)].

Rajeev

Rajeev (Expert)
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14 October 2009 Is the amt paid to the employer as compensation ?
I guess it will be a capital receipt .

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