Parihar Gopal (Corporate Taxation ) (392 Points)
29 September 2016Taxability of a Compensation Received by an Employee on termanation of Job
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177721 Points)
Replied 02 October 2016
Depends upon the order, whether one time compensation or for salary of different years.
Parihar Gopal
(Corporate Taxation )
(392 Points)
Replied 02 October 2016
Sir its Slary for Last Four year only
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177721 Points)
Replied 02 October 2016
So, it can be break up in corresponding years as arrears, by filling form 10E
Ashok Kumar
(CA qualified)
(389 Points)
Replied 02 October 2016
the whole of income is taxable subject to relief u/s 89. But exemption u/s 10(10B) can be claimed if the compensation is paid under Industrial disputes act to a workman.
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