https://www.taxtmi.com/article/detailed?id=7875 Section 10(10B) exempts compensation payable under the Industrial Disputes Act or related instruments when paid at the time of retrenchment, and includes deeming provisions for closure or transfer that interrupt service or worsen terms. A tribunal held that a settlement payment incorporated into an industrial tribunal order is compensation under the Act and, applying precedent treating compensation in lieu of reinstatement as retrenchment compensation, such compromise payments can qualify for exemption if they effectively terminate employment as retrenchment. en-us Fri, 09 Feb 2018 07:40:43 +0530 Fri, 09 Feb 2018 07:40:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7875 Section 10(10B) exempts compensation payable under the Industrial Disputes Act or related instruments when paid at the time of retrenchment, and includes deeming provisions for closure or transfer that interrupt service or worsen terms. A tribunal held that a settlement payment incorporated into an industrial tribunal order is compensation under the Act and, applying precedent treating compensation in lieu of reinstatement as retrenchment compensation, such compromise payments can qualify for exemption if they effectively terminate employment as retrenchment. Articles Income Tax Fri, 09 Feb 2018 07:40:43 +0530 https://www.taxtmi.com/article/detailed?id=7875