CA and CMA Ravinder Singh (CA and CMA) (853 Points)
22 August 2013is the Compensation Received under section 33C(2) of ID act, 1947 falls withing the ambit of section 10(10B) of income tax act or under any other section for claiming exemption..??
the said compensation is received by assessee after his retirement after an order made by High Court under ID act, 1947. the application was made under the said section 33C(2).
Mihir
(Wealth Manager)
(5293 Points)
Replied 23 August 2013
I think compensation received by an assessee at the time of retirement under ID Act is exempt upto Rs. 500,000/-
Wait for others to reply.
CAclubindia
