Retrenchment compensation limit set as the exemption ceiling for workman payments received at the time of retrenchment under applicable laws. The Central Government specifies a ceiling of five lakhs rupees as the maximum amount of retrenchment compensation exempt for a workman under Section 10(10B) of the Income-tax Act, applicable to amounts received under the Industrial Disputes Act, other statutes, standing orders, awards, contracts of service or otherwise at the time of retrenchment on or after the stated commencement date.
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.
Retrenchment compensation limit set as the exemption ceiling for workman payments received at the time of retrenchment under applicable laws.
The Central Government specifies a ceiling of five lakhs rupees as the maximum amount of retrenchment compensation exempt for a workman under Section 10(10B) of the Income-tax Act, applicable to amounts received under the Industrial Disputes Act, other statutes, standing orders, awards, contracts of service or otherwise at the time of retrenchment on or after the stated commencement date.
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