What is voluntary separation payment

This query is : Resolved 

21 October 2013 in blance sheet assets side op. blance of voluntary sepration payment given 65000 & closing blanc is given 125000.. additional information is given that voluntary separation cost 50000 adjst against gen.res. from abve prblm 110000 is paid.. but i couldn't understood the concept of VRP

21 October 2013 Hi

It is like VRS.

Refere: http://law.incometaxindia.gov.in/Directtaxlaws/act2005/sec_010(10c).htm

Thanks//VaibhavJ


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