TaxTMI 
TaxTMI 
TaxTMI 
Income-tax (21st Amendment) Rules, 2002
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.... the Income-tax Rules, 1962, namely :- 1. (1) These rules may be called the Income-tax (21st Amendment) Rules, 2002. (2) They shall be deemed to have come into force on the Ist day of April. 2002. 2. In the Income-tax Rules, 1962, in rule 21A,- (i) for Sub-rules (1) and (2), the following shall be substituted, namely :- "(I) Where, by reason of any portion of an assessee's salary being p....
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.... extending over a period of not less than five years, in accordance with the provisions of Sub-rule (3); (c) where the payment is in the nature of compensation received by the assessee from his employer or former employer at or in connection with the termination of his employment after continuous service for not less than three years and where the unexpired portion of his term of employment is a....
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....espectively as the additional salary or additional family pension, as the case may be, and such previous year being hereafter in this Sub-rule referred to as the relevant previous year) shall be reduced by the amount, if any. by which the tax on the additional salary or additional family pension, calculated in the manner specified in clause (b), exceeds the tax or the aggregate tax on the addition....
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....s increased by the additional Salary or additional family pension, as if the total income so increased were the total income of the assessee, and the amount by which the tax so calculated exceeds the tax payable by the assessee in respect of the total income of the said previous year shall, for the purposes of clause (a), be taken on the additional salary or additional family pension, under this c....