Ex-Gratia Payment Received

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80 Points Posted on 22 July 2021
Can anybody please tell me the tax treatment of ex-gratia payment received by an employee of Pvt. Ltd. Company on account of winding up of company ?
AND
Whether any benefit is allowed under the act?
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On 22 July 2021 at 06:49 Report
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Quick Summary
This discussion clarifies the tax implications of receiving an ex-gratia payment from a private limited company that is winding up. The consensus is that such payments are treated as normal income under the salary head for tax purposes. No specific benefits under the Act are mentioned as being applicable in this scenario.

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223 Points Posted on 22 July 2021
No it will be treated as normal income under salary only
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On 22 July 2021 at 07:57
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Chartered Accountant
24588 Points Posted on 22 July 2021
It will be treated as a part of salary income
1 Reply
On 22 July 2021 at 09:12
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80 Points Posted on 22 July 2021
Thank You Sir
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On 22 July 2021 at 23:30
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Chartered Accountant
24588 Points Posted on 24 July 2021
Your welcome
1 Reply
On 24 July 2021 at 09:31

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