{"id":5105,"date":"2018-03-09T16:43:41","date_gmt":"2018-03-09T11:13:41","guid":{"rendered":"https:\/\/www.hostbooks.com\/in\/?p=5105"},"modified":"2018-03-10T18:48:02","modified_gmt":"2018-03-10T13:18:02","slug":"rule-2ba-guidelines-purposes-section-1010c","status":"publish","type":"post","link":"https:\/\/www.hostbooks.com\/in\/hb\/all-rules\/rule-2ba-guidelines-purposes-section-1010c\/","title":{"rendered":"Rule – 2BA, Guidelines for the purposes of section 10(10C)"},"content":{"rendered":"

2BA.<\/strong> The amount 12<\/sup>received by an employee of\u2014<\/p>\n

(i) a public sector company; or
\n(ii) any other company; or
\n(iii) an authority established under a Central, State or Provincial Act; or
\n(iv) a local 13<\/sup>[authority; or]
\n14<\/sup>[(v) a co-operative society; or
\n(vi) a University established or incorporated by or under a Central, State or Provincial Act and an institution declared to be a University under section 3 of the University Grants Commission Act, 1956 (3 of 1956); or
\n(vii) an Indian Institute of Technology within the meaning of clause (g)15<\/sup> of section 3 of the Institutes of Technology Act, 1961 (59 of 1961); or
\n16<\/sup>[(viia) an institution, having importance throughout India or in any State or States, as the Central Government may, by notification in the Official Gazette17<\/sup>, specify in this behalf; or]
\n(viii) such institute of management as the Central Government may, by notification in the Official Gazette18<\/sup>, specify in this behalf,]<\/p>\n

19<\/sup>at the time of his voluntary retirement 20<\/sup>[or voluntary separation] shall be exempt under clause (10C) of section 10 only if the scheme of voluntary retirement framed by the aforesaid company or authority 21<\/sup>[or co-operative society or University or institute], as the case may be 22<\/sup>[or if the scheme of voluntary separation framed by a public sector company,] is in accordance with the following requirements, namely :\u2014<\/p>\n

(i) it applies to an employee 23<\/sup>[***] who has completed 10 years of service or completed 40 years of age;
\n24<\/sup>[(ii) it applies to all employees (by whatever name called) including workers and executives of a company or of an authority or of a co-operative society, as the case may be, excepting directors of a company or of a co-operative society;]
\n(iii) the scheme of voluntary retirement 25<\/sup>[or voluntary separation] has been drawn to result in overall reduction in the existing strength of the employees 26<\/sup>[***];
\n(iv) the vacancy caused by the voluntary retirement 27<\/sup>[or voluntary separation] is not to be filled up;
\n(v) the retiring employee of a company shall not be employed in another company or concern belonging to the same management;
\n(vi) the amount receivable on account of voluntary retirement 27<\/sup>[or voluntary separation] of the employee does not exceed the amount equivalent to 28<\/sup>[three months\u2019] salary for each completed year of service or salary at the time of retirement multiplied by the balance months of service left before the date of his retirement on superannuation29<\/sup> :<\/p>\n

30<\/sup>[Provided<\/strong> that requirement of (i) above would not be applicable in case of amount received by an employee of a public sector company under the scheme of voluntary separation framed by such public sector company.]<\/p>\n

Explanation : In this rule, the expression \u201csalary\u201d shall have the same meaning as is assigned to it in clause (h) of rule 2 of Part A of the Fourth Schedule.]<\/p>\n

Reference: www.incometaxindia.gov.in<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"

2BA. The amount 12received by an employee of\u2014 (i) a public sector company; or (ii) [\u2026]<\/span><\/p>\n","protected":false},"author":68,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1439,1440],"tags":[],"yst_prominent_words":[403,454,6377,566,6381,1233,710,6379,6376,6373,824,367,6370,6368,6380,1234,5415,2812,2803,6369],"_links":{"self":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/5105"}],"collection":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/users\/68"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/comments?post=5105"}],"version-history":[{"count":0,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/posts\/5105\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/media?parent=5105"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/categories?post=5105"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/tags?post=5105"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.hostbooks.com\/in\/hb\/wp-json\/wp\/v2\/yst_prominent_words?post=5105"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}