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1. Search Case laws by Section / Act / Rule β now available beyond Income Tax. GST and Other Laws Available


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<h1>Termination Compensation Taxable Under Section 56(2)(xi) as Income, Irrespective of Label or Purpose</h1> Compensation received by an employee upon termination or due to changes in employment terms is taxable as income from other sources under Section 56(2)(xi) of the Income Tax regulations. This applies regardless of the name given to the compensation or payment.