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Retrenchment Compensation – Section 10(10B)

Retrenchment compensation received by an assessee shall be exempt of the least amount from the following.

  • Actual amount received
  • 5,00,000
  • An amount calculated in accordance with section 25F(b) of the Industrial Disputes Act, 1947 i.e 15 days average pay x completed year of service or part thereof in excess of 6 months

 

About Rohit Pithisaria

I am a Practising Chartered Accountant based in Jaipur, Rajasthan. Co-founder of TaxAdda.com and been in practice for more than 5 years. Have expertise in Income Tax and rendered our services to more than 2000 clients.
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