Can Exgratia Compensation Expenses deducted as per IT Act ?
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Exgratia compensation
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hi can you eloberate ur question.
Thanks!!
Hi,
In Circular No. 573, dated 21-8-1990, it was stated that a lump sum payment made gratuitously or by way of compensation or otherwise to the widow or other legal heirs of an employee, who dies while still in active service, is not taxable as income under the Income Tax Act, 1961.
Thanks!!
| Originally posted by : @ VaibhavJ | ||
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Hi, In Circular No. 573, dated 21-8-1990, it was stated that a lump sum payment made gratuitously or by way of compensation or otherwise to the widow or other legal heirs of an employee, who dies while still in active service, is not taxable as income under the Income Tax Act, 1961. Thanks!! |
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thanks to all friends..........
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