11 January 2013
(iii) Mr. Xavier received Rs. 2,00,000 from the prospective employer before joining duty in order to resign from the present employer. Subsequently, he joined the new employer. The amount received is (a) Taxable as income from business (b) Taxable as salary income (c) Exempt from tax u/s 10 (d) Exempt being capital receipt.
Guest
Guest
(Expert)
11 January 2013
The amount received will form part of salary in nature of other cash benefit.
CAclubindia
