Full time / Permanent employee fired from job after 12 years and given lumpsum payment .. help neede

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

Replies (4)
Quick Summary
After 14 years of full-time employment, an individual was unexpectedly terminated and received a lump sum severance payment. They are seeking clarity on whether this payment qualifies for tax relief, specifically Relief 89, and if it can be considered Gratuity. The termination letter describes the payment as discretionary compensation for loss of office, and the payslip refers to it as 'severance statutory'.

@ Moby Mogli

If you were paid the severence as Gratuity, then upto 20L is tax free for private employment.

Termination of job happened outside India.

termination letter says discretionary onetime compensation for loss of office and termination. This is the wording .

payslip shows "severence statutory" 

Trying to check if o am eligible for relief 89 here ?

I suppose this last payment can be considered Gratuity pay

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