Amount received after cessation of employment with the employer ...

Voluntary post-employment payments are considered profits in lieu of salary, not limited by Income Tax Act section 17(3)(iii).

April 15, 2023

Case Laws     Income Tax     AT

Amount received after cessation of employment with the employer company - profits in lieu of salary - when the employer itself stated that the payment has been made voluntarily by them out of appreciation for the employee thus falls outside the rigours of section 17(3)(iii) of the Act. - AT

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