TaxTMI 
TaxTMI 
I had taken a voluntary separation from my Organization in 2014 as it was shutting down. I got a golden handshake sum of around 5lacs. I paid Income Tax on the complete amount. However, now I am being told that I could have gotten a waiver on the IT under 'Golden Handshake Policy'. Can I still avail a refund on that amount?
Refund on an already filed Return
11 Sep 2018 
3 Replies 
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Golden handshake exemption may allow tax refund; seek condonation under tax authority circular for delayed revised return.
Where Section 10(10C) exemption for golden handshake applies, a taxpayer who already paid tax may seek a refund by applying for condonation of delay under CBDT Circular No.9/2015, which permits officers to condone late filing of revised returns for refunds up to six years from the end of the assessment year. The taxpayer should apply to the Principal CIT/CIT with supporting documents including the 143(1) intimation or assessment order, the VRS letter, and proofs of other income; the officer will decide in writing, and an RTI to the CPIO can be used if the officer is unaware of the circular. (AI Summary)
Where Section 10(10C) exemption for golden handshake applies, a taxpayer who already paid tax may seek a refund by applying for condonation of delay under CBDT Circular No.9/2015, which permits officers to condone late filing of revised returns for refunds up to six years from the end of the assessment year. The taxpayer should apply to the Principal CIT/CIT with supporting documents including the 143(1) intimation or assessment order, the VRS letter, and proofs of other income; the officer will decide in writing, and an RTI to the CPIO can be used if the officer is unaware of the circular. (AI Summary)