Tax implications on VRS

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Senthil kumar (Querist)
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16 March 2017 Tax implications on voluntary retirement, conditions.Is the date of announcing the scheme important for calculating tax liability ?

vaibhav singhi

vaibhav singhi (Expert)
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16 March 2017 to employs allowed as deduction in 5 installments from year of payment

vaibhav singhi

vaibhav singhi (Expert)
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16 March 2017 to employees exempt upto 5 lakh and excess is taxable under normal slab rates

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Senthil kumar

Senthil kumar (Querist)
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17 March 2017 Thank you so much sir..

Senthil kumar

Senthil kumar (Querist)
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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