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VRS ACCEPTABLE CONDITIONS
VRS offer in hand? Check these tax rules before you accept the packageContemplating a Voluntary Retirement Scheme (VRS)? Prior to making your decision, it’s crucial to analyze the overall financial implication...- Retiring early? Know how much tax exemption can employees claim for VRSYou can claim full tax exemption on VRS if the scheme was launched under special framework; Know how it works for employees claiming VRS.
- ITR filing: Received Section 143(1) intimation with tax demand? Respond within 30 days or risk being treated as an ‘assessee in default’; know how to do itTaxpayers must respond to Section 143(1) intimations with tax demands promptly. Failure to respond within thirty days can lead to penalties...
- Senior citizen mistakenly paid tax on tax-free VRS compensation; wins complete relief from ITAT Chennai on this groundA senior citizen wrongly paid tax on Rs 24 lakh retrenchment compensation received under a BSNL Voluntary Retirement Scheme. Despite a sign...
- Fired employee gets Rs 26 lakh severance pay, but didn't pay income tax; loses tax battle in ITAT Hyderabad for this key reasonIn a landmark decision on November 19, 2025, the ITAT Hyderabad ruled that severance packages is to be classified as taxable income under p...
- Pension, gratuity withheld on caste misrepresentation charge, retired govt officer fights and wins case in Bombay High CourtA retired Central Excise officer has won a significant legal battle. The Bombay High Court has ordered the release of his pension and gratu...
- Air India privatisation saga: 'Time we stopped paying Rs 20 cr/day of taxpayers money to keep it flying'Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of salt-to-software conglomerate ...
- Government sweetens deal to attract bidders for Pawan HansNow, the successful bidder would be required to retain all permanent employees for a period of at least a year.
- Gujarat gets Centre's nod to restart disciplinary proceedings against retired IPS officer Rahul SharmaThe Union home ministry has approved a request by the Guj CM to restart disciplinary proceedings against a retired IPS who has had runins w...
- Employees of HMT are refused loans at banksMost of the workers, recruited in the late ’80s, were under-graduates but they had many an asset: a secure government job, a good pay-scale.
- VRS request of eligible government employees should be accepted: High CourtMadras High Court has observed that government should accept the voluntary retirement request of its employees eligible for VRS .
- Nokia workers allege management forcing them to opt for VRSThe employees at a meeting decided to seek the intervention of government to direct the management to make the VRS scheme optional and not ...
- AI told to start low-cost serviceBudget flyers could soon be spoilt for choice. Cash-strapped Air India has been asked to start low-cost domestic operations as part of its ...
- Kotak Securities sees sustaining GDP growth a budget priorityKotak Securities believes that priorities of government have changed from reducing inflation rate to sustaining high GDP growth rate. FMs w...
- VRS is not a dirty word anymoreThe corporate scene in India today is completely different from what it was a decade or so ago.
- Companies can now write off VRS expensesThe Institute of Chartered Accountants of India (ICAI) has decided to allow business enterprises to the write off expenditure on voluntary ...
- STC staff given right of conditional VRSEmployees of State Trading Corporation would be given the right to seek voluntary retirement conditional on privatisation of the company un...
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