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vrs compensation
pvt ltd company announces vrs of 12 lacs and in addition a lic annuity policy in the name of employee of rs 5 lacs to each employee what will be the tax liability
Replies (6)
can you tell me year of service & age of employee , better u can read section 10 (10C) of income tax act 1961
22 yrs of service and age is 50yrs
employee is eligible to claim sun of RS 5L or 15/26*lady 10 month average salary ( which ever is lower ) is exempted. and balance is taxable.
annuity lic is exempted in Hands of employee
employee is eligible what does that mean
employee whether lumpsum deposited is exempted
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