My client is an employee of MSPGCL (Maharashtra State Power Generation Co. Ltd.) and is about to receive on retirement, Gratuity of Rs 7lacs and Leave encashment of Rs 4 lacs. As MSPGCL is registered under Companies Act. he may have to bear huge tax liability pls suggest.
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TAXABILITY OF RETIREMENT BENEFITS RECD BY EMPLOYEE OF MSPGCL
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Assessee can take shelter of Sec 89 to reduce his tax liability
Regd
Lovenish Bansal
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