https://www.taxtmi.com/caselaws?id=13022 The court held that the deduction of income tax at source from 50% of the compensation payable under the Voluntary Retirement Scheme (VRS) by the bank was legal and justified. It clarified that the entire compensation accrued under the VRS was chargeable income, rejecting the argument that only 50% should be treated as such. The court directed the bank to recompute the TDS based on the entire income chargeable under "Salaries" for the relevant financial year, allowing for refunds if excess TDS was deducted. en-us Thu, 04 Oct 2001 00:00:00 +0530 Mon, 03 May 2010 01:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13022 The court held that the deduction of income tax at source from 50% of the compensation payable under the Voluntary Retirement Scheme (VRS) by the bank was legal and justified. It clarified that the entire compensation accrued under the VRS was chargeable income, rejecting the argument that only 50% should be treated as such. The court directed the bank to recompute the TDS based on the entire income chargeable under "Salaries" for the relevant financial year, allowing for refunds if excess TDS was deducted. Case-Laws Income Tax Thu, 04 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13022