Income Tax Exemption under Section 10(10C) of Income Tax Act, 1961

Eligible Assessee

Individual employee

Nature of Income

Amount received on voluntary retirement

Amount Exempt

Amount received as per scheme not exceeding Rs. 5,00,000/-

Conditions laid down for Tax Exemption

The scheme of voluntary retirement should be framed in accordance with Guidelines prescribed (Rule 2BA)
Once the exemption is allowed under this clause in any assessment year, the same shall not be allowed in any other assessment year
From A.Y. 2010-11 if the assessee has been allowed relief u/s 89 for such payment in any assessment year, the exemption shall not be allowed under this clause

How to earn Tax free income? Incomes exempted from tax under Income Tax Act, 1961

Free download of Income Tax Return Filing Official Software

Time Limit for Filing Appeal with Commissioner of Income Tax (CIT) Appeals and Income Tax Appellate Tribunal (ITAT) - Fee for filing Income Tax Appeals

Advance Payment of Income Tax

Tax Deducted at Source (TDS) Rates from Financial Year 2013-14 (Assessment Year 2014-15)

Tax Deducted at Source (TDS) Rates

Income Tax Rates Financial Year 2012-13

Income Tax Rates Financial Year 2013-14

Important Due Dates

Audit requirement for business and profession under section 44 AB of Income Tax Act 1961

Income Tax Exemption under Section 10 of Income Tax Act, 1961

Deductions allowed from Gross Total Income under Chapter VI A of Income Tax Act, 1961

Tax saving schemes and deductions available against investment

How to calculate Value of Perquisites for accommodation provided by the employer to employee: Income Tax Rule 3 (1)

How to calculate Value of Perquisites by way of use of motor vehicle by an employee provided by the employer to employee: Income Tax Rule 3(2)(A)

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