Whether Ex Gratia received on voluntary resignation can qualify for exemption u/s.10(10C) as compensation on voluntary retirement?
AMEET KIMBAHUNE (Consultant) (87 Points)
24 March 2009Whether Ex Gratia received on voluntary resignation can qualify for exemption u/s.10(10C) as compensation on voluntary retirement?
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 25 March 2009
Prima facie yes. But you need to check if you satisfying all the conditions.
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 25 March 2009
Its a part of your salary, but is been added as component of CTC.. while preparing salary structure..As a practice exgratia is paid once in a year.
This is a lumsum amount payable once in a year and this attaracts taxes as applicable.
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