Whether an employee retiring under Voluntary Retirement Scheme is eligible for relief U/s 89 (1) in addition to Income upto Rs. 5.00 Lacs exempt U/s 10 (10C). If yes, please mention any case law available on the subject preferable of Supreme Court.
Menu
pls help me
Replies (1)
hi,
"Relief u/s 89 is admissbile in respect of the amount received by the assessee-employee from the employer at the time of vol.retirement or seperation" -CIT v . M.Raman [2000] 245 ITR 856(Mad.) -
to supersede the above ruling, s.10(10C) has been amended :
From AY. 2010-11 , Section 10(10C) has been amended to provide that the person who has availed relief u/s 89 in respect of compensation for vol.retirement or seperation or termination of services , will not be able to claim any exemption u/s 10(10C) for the same assessment year or any other assessment year.
Recent Topics :
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
- Register on Income Tax as CA
- Deduction In Employee Provident Fund
- This is a gift for all Chartered Accountants and P
- NRI, ITR-2 FY 2025-26: AIS Part B2 (SFT) shows hig
- Wallet query for GST.
- 25-26 exempted sales
- Hotel stay below Rs.1000/- GST applicable or exemp
Related Topics :
CAclubindia
