Tax exemption for voluntary retirement payments and specified legislative allowances; registered public sector bonds get conditional tax relief. The amendment creates a tax-exempt provision for payments to public sector company employees on voluntary retirement under Central Government-approved schemes, updates Post Office deposit rule references retrospectively, allows tax-preferred bonds or debentures by public sector companies subject to registration and notified conditions, and clarifies exemption of specified parliamentary and State Legislature membership allowances as notified by the Central Government.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption for voluntary retirement payments and specified legislative allowances; registered public sector bonds get conditional tax relief.
The amendment creates a tax-exempt provision for payments to public sector company employees on voluntary retirement under Central Government-approved schemes, updates Post Office deposit rule references retrospectively, allows tax-preferred bonds or debentures by public sector companies subject to registration and notified conditions, and clarifies exemption of specified parliamentary and State Legislature membership allowances as notified by the Central Government.
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