Example:-Mr. X received voluntary retirement compensation of 7,00,000 after 30 years 4 months of service. He still has 6 years of service left. At the time of voluntary retirement, he was drawing basic salary 20,000 p.m.; Dearness allowance (which forms part of pay) 5000 p.m. Compute his taxable VRS.

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.... salary 20,000 p.m.; Dearness allowance (which forms part of pay) 5000 p.m. Compute his taxable VRS.<br>Salary - Voluntary Retirement or Separation - [Sec. 10(10C) AND RULE 2BA] Income Tax – Salary<....