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TAX TREATMENT OF VRS
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
- ITR 2026: Common income tax return filing mistakes that cost employees lakhsA careful, timely, and well-documented filing approach can help employees avoid notices, interest, penalties, and refund delays while ensur...
- 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...
- Incomes that are exempted under the new tax regimeThough an individual cannot claim certain deductions in the new tax regime, however, a certain type of incomes remain tax-exempted under th...
- New income tax slabs: Will you gain by switching to new regime?Budget 2020 had proposed an alternate income tax structure, which has come into effect fro April 1, 2020. Find out whether you will benefit...
- Nokia's Chennai plant shutdown a descent into darkness for some, new path for othersLife after Nokia has gained momentum only for a select few like Ebenezer who benefited from Nokia’s cushions for the hard-landing.
- Nokia India implements 'Bridge' programme to help former employees of Chennai plantNokia India is implementing a 'Bridge' programme for former employees who lost their jobs, providing vital help during a difficult period.
- Why Nokia India's Chennai plant has become the orphan factoryIn September 2013, Microsoft purchased Nokia’s handset business at the global level for $7.2 billion, a deal it will close tomorrow -- with...
- Query corner: TaxVaibhav Sankla, Executive Director, Adroit helps with your tax planning.
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