Vrs exemption for govt.employees

Tax queries 1078 views 5 replies

DEAR FRIENDS

 

KINDLY LET ME KNOW THAT

1. AMOUNT RECD. UNDER  VOLUNTARY RETIREMENT SCHEME AVAILED BY DOCTORS (GOVT.EMPLOYEES) IS FULLY EXEMPT OR UPTO RS. FIVE LAC.

2. TAX CONSEQUENCES OF VRS.

THANKS

 

REENA JAIN

 

Replies (5)

 

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VRS retirement benefits are fully exempt. 

compensation received on VRS is fully exempted if it is received from

1. local authority

2. university

3. IIT

4. state govt.

5. central govt.

6. authority established under state, central or provincial act

7. public sector company

8. co-operative society

For Govt empolyees, amount received on VRS is fully exempt.

yea..... exempt 4 gov. employee


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