Permanent-establishment reassessment cannot revisit scrutinised disclosures; extended reopening fails without undisclosed material facts and within st...
Modified returns after business reorganisation must be assessed within pending proceedings, barring parallel scrutiny and consequential transfer prici...
Turnover mismatches under percentage-completion accounting cannot alone establish suppressed income where customer advances remain recorded as liabili...
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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.
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