Retired employee wrongly claimed Rs. 20 lakh gratuity exemption — Income Tax Dept imposed penalty, but ITAT ruled in her favour

A retired government employee successfully appealed a penalty after mistakenly claiming an excess gratuity tax exemption. The ...
The Tax Adviser

R&D tax credits: A new era of disclosure and documentation

The IRS’s increased documentation requirements for Sec. 41 claims require taxpayers to specifically identify applicable business components and their costs and why their development is qualified ...

Retired govt employee claims Rs 20 lakh gratuity tax exemption; I-T Dept imposes Rs 2.2 lakh penalty; ITAT Cochin rules in her favour

A retired state employee successfully challenged a Rs 2.2 lakh penalty imposed for claiming a higher gratuity tax exemption.