Marginal relief (sec.89 ) and sec .10 (10)c

Nishant (Accounts Assistant) (378 Points)

26 July 2013  

Dear Sirs ,

                  An Assessee has received his Total VRS (Voluntary Retirement Scheme) Compensation over a period of two years ; in AY 2012-13 amounting to 8,00,000 and in AY 2013-14 amounting to Rs.400000 . The amount received in AY 2013-14 is mainly comprised of Ex-gratia amount.

                   He had already claimed the exemption under Section 10(10)C in his Tax Return for the A.Y. 2012-13 . 

Now can the assessee claim releif under Section 89 in AY 2013-14 with respect to the amount of Rs.4,00,000

           Kindly advise.

          Thanks