Cash package non-taxable
The government has made non-taxable the cash packages being offered to Maoist combatants opting for voluntary retirement.
The Special Commi-ttee Secretariat (SCC) is paying the combatants a full first installment in the seven main cantonments. The cash package of Rs 500,000 to Rs 800,000 was subject to income tax under the Income Tax Act.
It is learnt the Finance Ministry decided to exempt the combatants from taxes in their cash packages and released Rs 1.97 billion for the 7,365 combatants as decided.
“The ministry has not levied taxes on the retirement package. As an implementing agency, we are distributing cheques in line with the government decision,” said SCC Coordinator Balananda Sharma.
Posted on: 2012-02-05 08:09
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