Vrs-35dda & 10(10c) exemption

This query is : Resolved

N.GOVIND (Querist)
Follow

18 April 2012 Dear Sir/s

ABC Company management is willing to pay Rs.3 Lac under VRS Scheme to one of their worker who is completed over 21 years of service.

1) Whether the Company is eligible to claim exemption u/s 35DDA (1/5th) or 100%?

2) Whether the Worker is eligible to calim exemption u/s 10(10C)?.

3) Whether the above Rules are applicable even if the scheme of Voluntary retirement (VRS) has not been framed in accordance with guidelines prescribed under section 10(10C).

Please clarify the above at the earliest.

Best Regards,

N.Govind.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
Follow

19 April 2012 For payment of 3 lacs there must be some breakup. This is not a compensation it is voluntary retirement opted by the employee so the company must have calculated on which account his money is paid. Accordingly all calculations will depend.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

eddanapudi murali

ACCFIN SOLUTIONS

Amit Singh

K.M. AGGARWAL

Vinod Dharwarkar

Subscribe Now

Vrs-35dda & 10(10c) exemption

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Article Assistant

CA Final

GST CONSULTANCY

Accountant