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Example -Mr. X received retrenchment compensation of ₹ 1000000 after 30 years 4 months of service. At the time of retrenchment he was drawing basic salary ₹ 20000 p.m.; dearness allowance ₹ 5000 p.m. Compute his taxable retrenchment compensation.

Dated:- 10-8-2015 - Chapter No. 06 - Salary - Retrenchment Compensation - [Sec. 10(10B)] The least of the following shall be exempt from tax: 25,000 x 15/26 x 30 = 4,32,692 10,00,000 5,00,000 ₹ .....

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