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).
16 April 2012
co will be eligible for 35DDA deduction at 1/5 of amount in five instalments employee will be entitled for exemption if the conditions of section 10(10C) are met CA MANOJ GUPTA JODHPUR 09828510543
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