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Retrenchment Compensation - [Sec. 10(10B)]

Income Tax - Salary Income - 06 - RETRENCHMENT COMPENSATION [Sec. 10(10B)] Retrenchment compensation received by an assessee at the time of his retrenchment, shall be exempt to the least amount from the following: (i) Actual amount received (ii) an a .....

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ified by the Central Government, i.e. ₹ 500,000 NOTES: Compensation received in excess of the aforesaid limit is taxable and would form part of Gross Salary. However assessee will be eligible for relief u/s 89 read with Rule 21A. Compensastion .....

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