Exgratia other than gratuity received by an employee Rs. 20 lacs on VRS is taxable ?? Can he claim relief us 89 ?? Or can he claim Rs. 5 lac exemption under section 10 ??
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VRS compensation
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Yes. it taxable under profit in lieu of salary under sec 17(3).
For claiming relief under sec 89 he should rendered continuous service of 3 years and left period of service should be more than 3 years.
you should not claim vrs exempt under sec 10 to claim benefit under 89
For claiming relief under sec 89 he should rendered continuous service of 3 years and left period of service should be more than 3 years.
you should not claim vrs exempt under sec 10 to claim benefit under 89
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