Settlement application eligibility requires a pending assessment when filed, preventing an extra prior-eligibility condition from blocking considerati...
Reassessment for unreturned property sales survives where transfer information, non-filing, and unsupported exemption claims establish a prima facie l...
Profit-element taxation limits additions for unaccounted flat-sale receipts and grey-market purchases, while reliable search records support partial a...
Tax treatment of payments under restructuring or voluntary-retirement schemes depends on their statutory substance rather than labels such as VRS or ex gratia. Retrenchment-linked compensation under a Central Government-approved special-protection scheme may fall within section 10(10B), rather than the limited section 10(10C) regime and Rule 2BA conditions. Leave encashment is a distinct terminal receipt governed by section 10(10AA): Government employees receive full coverage, while other employees are subject to earned-leave, salary, aggregation and notified-limit conditions. Notification No. 31/2023 specifies a twenty-five-lakh limit for non-Government employees, effective from 1 April 2023. Settlement components and supporting records should be separately identified.
Tax treatment of payments under restructuring or voluntary-retirement schemes depends on their statutory substance rather than labels such as VRS or ex gratia. Retrenchment-linked compensation under a Central Government-approved special-protection scheme may fall within section 10(10B), rather than the limited section 10(10C) regime and Rule 2BA conditions. Leave encashment is a distinct terminal receipt governed by section 10(10AA): Government employees receive full coverage, while other employees are subject to earned-leave, salary, aggregation and notified-limit conditions. Notification No. 31/2023 specifies a twenty-five-lakh limit for non-Government employees, effective from 1 April 2023. Settlement components and supporting records should be separately identified.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4879 
