Priya, (Non-Government Employee) an employee of S Ltd. have received the amount of retrenchment compensation as she is going out of the company due to the retrenchment process. The total years she worked in the company i
CS Executive · Tax Laws · PYQS · June 2022
Priya, (Non-Government Employee) an employee of S Ltd. have received the amount of retrenchment compensation as she is going out of the company due to the retrenchment process. The total years she worked in the company is 17 years. The average pay equals to 15 days is ₹30,500. You are required to compute the income which is chargeable under the head salaries in the hands of Priya. (Assessee has not opted for section 115BAC).
Answer & Explanation:
The official key records '*'. This question is excluded from automatic grading because the source does not supply an unambiguous valid choice. Official source note: All options are incorrect as the actual amount of retrenchment compensation paid to Ms. Priya is not mentioned and therefore computation could not be made.
Topics: Income Tax Act, 1961
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