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VRS COMPENSATION
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.
- Is severance pay received under a VRS taxable for all employees? Know what the Income Tax law saysSeverance pay received under a voluntary retirement scheme is not always taxable for all employees; Know why and what the tax law says
- ET Prime Special Series: Multibagger or IBC - Part 72: Its profit finally came from the factory. The question is about durabilityThe largest single liability on this automobile supplier's balance sheet is not a bank loan. It is a lease, tied to an entity controlled by...
- Income tax for senior citizens: No salary after retirement? These 7 incomes can still attract tax; know what is exemptRetirement is not synonymous with tax freedom. Your pensions, interest income, rental earnings, and capital gains may still incur taxes. It...
- SBI rejects Rs 9.48 lakh VRS claim after employee dies a month before cut-off date; HC orders payment to family for this reasonSBI denied Rs 9.48 Lakh VRS benefits as employee died a month before VRS retirement cut-off date; Telangana HC grants relief to family and ...
- 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...
- Pollution board fines IOC Rs 1 crore, BPCL Rs 2 crore for not installing pollution control devices at their petrol pumpsState-owned Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Ltd (BPCL) have been fined by the Central Pollution Control Board...
- Commerce Ministry seeks financial support from Finance Ministry for VRS scheme of MMTCThe company needs money to pay its employees who are opting for VRS (voluntary retirement scheme), and due to its weak financial conditions...
- Tata Motors offers its third VRS scheme in four years as part of its ongoing cost restructuring exerciseThee VRS scheme will be the third round of VRS offered by the company in four years. Tata Motors has a total of 42,597 employees and about ...
- Nokia paid Rs 250 crore compensation under VRS to 5,600 employeesFinland-based Nokia has paid about Rs 250 crore as compensation to employees of its Chennai manufacturing facility, who opted for the volun...
- 5,000 employees opt for Voluntary Retirement Scheme at Nokia Chennai factoryNokia India Employees Union sources said employees who had opted for the scheme, which entitles a benefit of around Rs 2L, did so out of fe...
- Air India planning to deny VRS to productive employeesThe finalisation of the VRS process itself has been delayed since the govt and Air India are working hard to retain talented people.
- Air India seeks Rs 1,100 crore more from government to implement VRSThe airline has sought this amount in addition to the Rs 10,600 crore that it is supposed to get this year.
- BSNL rings in VRS offer of upto Rs 20 lakh per employeeBSNL is ready to pay up to Rs 20 lakh per employee as part of its proposed voluntary retirement scheme designed to revive the loss-making c...
- BALCO resorting to contract labourBALCO, which was privatised a few years ago, is resorting to contract labour after giving VRS to its permanent employees.
- VRS is not a dirty word anymoreThe corporate scene in India today is completely different from what it was a decade or so ago.
- VRS takes toll on bottomlines of 49 firms in '03VRS has always been India Inc's pet cost-cutting tool. In FY03, 49 companies wrote off VRS costs, and in the process, saw their net profit ...
- Govt to offer PSU staffers VRS with life insuranceThe voluntary retirement schemes (VRS) for employees of public sector enterprises (PSE) are going to be more attractive. The government is ...
- Cos can claim tax break on VRS before '00-01Companies that have spent huge amounts on voluntary retirement schemes (VRS) are entitled to receive full exemptions on income-tax, the Inc...
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