Tax implications on VRS
This query is : Open
16 March 2017
Tax implications on voluntary retirement, conditions.Is the date of announcing the scheme important for calculating tax liability ?
16 March 2017
to employs allowed as deduction in 5 installments from year of payment
16 March 2017
to employees exempt upto 5 lakh and excess is taxable under normal slab rates
17 March 2017
Thank you so much sir..
17 March 2017
I have one doubt sir. For example VRS scheme is announced in 15 Jan 2017 . VRS amount is 10 lakhs and salary received during the year 2016-17 is 4 lakhs .but VRS approved on 5 April 2017 .In this case how tax will be calculated,and will the best VRS amount added under the head salary for the year 2016-17 or VRS amount will be taken to the next assessment year
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