Dear All,
Could you please advise if Severance pay is taxable in the hands of employees? In case it’s tax-exempt, is there any limit for the exemption? This is a little urgent, so appreciate a prompt response on this.
Dear All,
Could you please advise if Severance pay is taxable in the hands of employees? In case it’s tax-exempt, is there any limit for the exemption? This is a little urgent, so appreciate a prompt response on this.
Serverance pay is taxable and treated the same as part of the salary package. TDS to be calculated and deducted.
Thanks the clarification, Kavitha.