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Case Law Details

Case Name : Shri Manmohan Singh Bedi Vs A.C.I.T. (ITAT Chandigarh)
Related Assessment Year : 2007-08
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Voluntary Retirement – Assessee can claim both exemption u/s 10(10C) & rebate u/s 89

The assessee is entitled to the exemption under section 10(10C) of the Act and also rebate under section 89 of the Act in respect of the amount received in excess of Rs.5,00,000 on account of voluntary retirement. Thus their Lordships have held that the assessee, who opts for voluntary retirement, is not only entitled to exemption under section 10(10C) but also rebate under section 89 of the Income Tax Act. Please become a Premium member. If you are already a Premium member, login here to access the full content.

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6 Comments

  1. Manmohan gupta says:

    Sir मैंने कंपनी से वीआरएस ले लिया हे क्या मैं u/s89 ki भी छूट ले सकता हूं ?

  2. Nayaz says:

    I would like to know the income tax recovery on voluntary retirement benefit of Rs.2650000/- for FY 2016-17, If possible what is the procedure.

  3. ashok says:

    kindly send me full financial benefits for vrs employees in indian psu banks after 34 years service.like pl encahment- grauity/ pension.

  4. Snehanshu Kar Chaudhuri says:

    I like to know whether such dual exemption under section 10(10)c and 89(1) is available on V.R.E
    exgratia for the Assessment Year 2013-2014.

              Snehanshu Kar Chaudhuri

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