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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Finance Bill 2009: No Tax Relief on Voluntary Retirement if Exemption Claimed Under Section 10C</h1> Clause 38 of the Finance (No. 2) Bill, 2009, amends section 89 of the Income-tax Act, effective April 1, 2010. The amendment introduces a proviso stating that tax relief will not be granted for amounts received by an assessee upon voluntary retirement or service termination under a voluntary retirement or separation scheme if an exemption has been claimed under clause (10C) of section 10 for that or any other assessment year. This change affects assessment year 2010-11 and subsequent years, focusing on preventing dual claims of tax relief and exemptions.
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