Dear sir/mam,
if any person got VRS and he got lumpsum funds like PF, Gratuity etc.which are non taxable and shown in exempt income while filing ITR then is it complulsory to show these incomes in total salary column (by virtue 17(1)) or not.
thank you sir/mam
VRS fund
Replies (1)
Summary: You should report exempt incomes like PF and Gratuity in your ITR. Report the gross amount in the Salary schedule and claim the available exemptions to arrive at the taxable salary. Furthermore, you must disclose these amounts in the "Exempt Income" (Schedule EI) section of your ITR to prevent unnecessary scrutiny from the Income Tax Department.
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