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CBDT issues clarification on BSNL, MTNL VRS-2019 compensation; what retirees should know
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The Central Board of Direct Taxes clarified that compensation under BSNL and MTNL's VRS-2019 is treated as voluntary retirement compensation under Section 10, not retrenchment compensation. Eligible retirees can claim an exemption of up to Rs 5 lakh, with excess amounts taxable as salary. This notification affects pending tax claims and existing assessments for these employees.
What it affects
- Mahanagar Telephone NigamMTNLNeutral 0
Tax rules clarified for VRS compensation.Rolling sentiment Neutral -4
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