Section 146(5)(c) in The Income Tax Act, 2025

[Cites 0, Cited by 0] [Section 146(5)] [Section 146] [Entire Act]

Union of India - Subsection

Section 146(5)(c) in The Income Tax Act, 2025

(c)"emoluments" means any sum paid or payable to an employee in lieu of his employment, by whatever name called, but does not include––

(i)employer contributions paid or payable to any pension or provident fund or any other fund for the benefit of the employee as mandated by any law; and

(ii)lump sum payments paid or payable to an employee at the time of termination of his service, superannuation, or voluntary retirement, such as gratuity, severance pay, leave encashment, voluntary retrenchment benefits, commutation of pension and the like.

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Union of India - Subsection

Section 146(5)(c) in The Income Tax Act, 2025