spread over of vrs benefits

Querist : Anonymous (Querist) 17 March 2011 This query is : Resolved
I opted for VRS in April 2010 from MMTC, a Govt of India public Sector Corporation, my superannuation/retirement is August 2014 and VRS amount calculation worked out to Rs 25,00,000/-. After allowing exemption of Rs 5,00,000/- (Rupees Five lacs), rest of the amount has been subject to TDS @ 30%. I want to avail the benefit of spread over of VRS benefits
I am unable to spread over the amount

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R.Ramachandran (Expert) 17 March 2011
There is no facility under income tax Act for such spread over.

soumitra basu (Expert) 09 April 2011
You can file your income tax return and find some tax refunded since all the income can not be in the 30% tax bracket.

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