Please Help: ex gratia
Posted Date : 09-Sep-2011 , 11:16:26 am | Posted By aakash
sir ex gratia paid to legal heirs of deceased employee...........taxable or not
any reference would be great
thx
any reference would be great
thx
Category : Income Tax | Answers : 1 | Comments : 0 | Hits : 426
Answers
Answer By: Ashish Karundia
Dear Friend,
The ex gratia is exempt from tax u/s 10(10c) even if received by legal heirs if the conditions mentioned therein is fulfilled.
You can refer Circular : No. 776, dated 8-6-1999 issued by Income Tax department.
Hope this answers your query.
The ex gratia is exempt from tax u/s 10(10c) even if received by legal heirs if the conditions mentioned therein is fulfilled.
You can refer Circular : No. 776, dated 8-6-1999 issued by Income Tax department.
Hope this answers your query.
Comments