Mr. X, the manager of XYZ Ltd. since 2002, was terminated by the Company on 1st Aug 2017 y paying a compensation of Rs.200 Lakhs. Such Compensation is: a) Chargeable under the Wealth tax Act 1957 b) Not Chargeable under Income Tax Act c) Chargeable u/s 17(3)(i) d) Chargeable u/s 28(ii)(a)

Mr. X, the manager of XYZ Ltd. since 2002, was terminated by the Company on 1st Aug 2017 y paying a compensation of Rs.200 Lakhs. Such Compensation is:
a) Chargeable under the Wealth tax Act 1957
b) Not Chargeable under Income Tax Act
c) Chargeable u/s 17(3)(i)
d) Chargeable u/s 28(ii)(a)
by

1 Answer

Answer :

d) Chargeable u/s 28(ii)(a)
by

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