https://www.taxtmi.com/manuals?id=872 Voluntary retirement or voluntary separation compensation is exempt from income tax only within a prescribed monetary ceiling and only where the scheme satisfies strict eligibility and structural conditions. The exemption applies to payments received under qualifying schemes framed by specified employers, including companies, public sector companies, authorities, local authorities, co-operative societies, universities, IITs, governments, and notified institutions. The scheme must reduce overall employee strength, bar replacement of the vacancy, exclude directors, and prevent re-employment under the same management, while the receivable amount must remain within the prescribed salary-based formula. en-us Fri, 07 Aug 2015 14:48:00 +0530 Thu, 26 Mar 2026 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=872 Voluntary retirement or voluntary separation compensation is exempt from income tax only within a prescribed monetary ceiling and only where the scheme satisfies strict eligibility and structural conditions. The exemption applies to payments received under qualifying schemes framed by specified employers, including companies, public sector companies, authorities, local authorities, co-operative societies, universities, IITs, governments, and notified institutions. The scheme must reduce overall employee strength, bar replacement of the vacancy, exclude directors, and prevent re-employment under the same management, while the receivable amount must remain within the prescribed salary-based formula. Manuals Income Tax Fri, 07 Aug 2015 14:48:00 +0530 https://www.taxtmi.com/manuals?id=872