X, Manager of XYZ Ltd. since 2006 was terminated by the company on 1 st August 2020 by paying a compensation of ₹ 200 lakh. Such compensation is

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Question:X, Manager of XYZ Ltd. since 2006 was terminated by the company on 1 st August 2020 by paying a compensation of ₹ 200 lakh. Such compensation is

1.Chargeable under the Wealth-tax Act, 1957

2.Not chargeable under the Income-tax Act, 1961

3.Chargeable u/s 17(3)(z)(e?)

4. Chargeable u/s 28(n)(a)

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  1. X, Manager of XYZ Ltd. since 2006 was terminated by the company on 1 st August 2020 by paying a compensation of ₹ 200 lakh. Such compensation is
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