Claiming 5lac tax rebate for voluntary seperation ay2015-16

282 views 2 replies

Raghunandan BN

Others

25 Points Joined August 2015

recieved a voluntary seperation package last fin year 2014-15, can i claim this rebate this year under sec 10c?

if yes, which ITR should be used?

Replies (2)

CMA Poornima Madhava

CMA

13117 Points Joined May 2009

Amount exempt u/s 10(10C) up to Rs.5 lacs. I think you can use ITR2 and show such income under exempt income.

Thanks Poornima, but in ITR2 "exmpt income" doesnt clearly specify if i can show the voluntary seperation package as "loss". last year ITR2 had a option to declare it under section 10C. but this year they have changed that. not sure if the rule has changed>?