Profits in lieu of salary.
18. (1) For the purposes of this Part, "profits in lieu of salary" includes,—
| (a) | | the amount of any compensation due to, or received by, an assessee from his employer or former employer at or in connection with the— |
| (i) | | termination of his employment; or |
| (ii) | | modification of the terms and conditions relating thereto; |
| (b) | | any amount due to, or received, whether in lump sum or otherwise, by any assessee from any person— |
| (i) | | before his joining any employment with that person; or |
| (ii) | | after cessation of his employment with that person; |
| (c) | | any payment due to or received by an assessee— |
| (i) | | from an employer or a former employer; or |
| (ii) | | from a provident or other fund, to the extent to which it does not consist of contributions by the assessee or interest on such contributions; or |
| (iii) | | any sum received under a Keyman insurance policy as defined in Schedule II (Note 1), including the sum allocated by way of bonus on such policy. |
(2) The payment referred in sub-section (1)(c) shall not include any payment referred to in—
