RETREnchment
This query is : Resolved
29 October 2009
is compensation paid on account of retrenchment is taxable?
29 October 2009
See Section 10(10B) of the Income tax act.
As per this section minimum of following three is exempted:-
Actual amount received.
15 days average pay for every completed year of service or part thereof in excess of 6 months.
Amount specified by the central Govt. i.e. Rs. 500000.
As per this section minimum of following three is exempted:-
Actual amount received.
15 days average pay for every completed year of service or part thereof in excess of 6 months.
Amount specified by the central Govt. i.e. Rs. 500000.
29 October 2009
Agree with Expert.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- What is meaning of merging of expenses or income in accounts
- Accounting treatment of write off sundry debtors
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
