BSNL VRS Compensation Exempt as Retrenchment Compensation: ITAT Pune

Advertisement Sameer Yadram Sharma Vs ITO (ITAT Pune) In , the Pune Bench of the Income Tax Appellate Tribunal (ITAT) dealt with a batch of appeals concerning employees of Bharat Sanchar Nigam Limited (BSNL) for Assessment Years 2020-21 and 2021-22. The central issue before the Tribunal was whether the amounts received by BSNL employees under the BSNL Voluntary Retirement Scheme (VRS), 2019 constituted retrenchment compensation eligible for exemption under Section 10(10B) of the Income Tax Act or voluntary retirement compensation taxable subject to limited exemption under Section 10(10C). T...