Hi.. I worked as full time employee in a company between 2010 till 2024 and fired from job (was offered a one time lumpsum amount for the termination and loss of office). I am unemployed from 2024 April till now as I havent been successful yet.
Now I want to understand if I can get any relief on the tax payment for this severance?.. like relief 89?
Continously worked for 14 years and fired from job suddenly (which is a full time / permanent position).. Will it make me eligible to claim this relief?... The act talks about pending unexpired employment which is confusing...
The tax payment on my lumpsum is costing me a lot of money and I am looking for your kind assistance here.
Thank you
CAclubindia
