Gratuity Exemption limit AY 2019-20 FY 2018-19 under Income Tax Act Gratuity Exemption limit AY 2019-20 FY 2018-19 under Income Tax Act is given as per Section 10(10) of Income Tax Act of India 1 Death -cum-Retirement Gratuity received by other employees who are covered under Gratuity Act, 1972 (other than Government employee) (Subject to certain conditions). 10(10)(ii)… Read More »
Private-sector employees will soon be able to withdraw up to Rs.20 lakh in tax-free gratuity after the Centre decided to amend a law and bring them at par with central government staff. Currently, private sector employees can get tax exemption up to Rs.10 lakh in gratuity after five years of continuous employment. A tripartite meeting between… Read More »
Gratuity Exemption limit AY 2017-18 under Income Tax Act [ CIRCULAR NO. 1/2017 [F.NO. 275/192/2016-IT(B)], DATED 2-1-2017] Death-cum-retirement gratuity or any other gratuity is exempt to the extent specified from inclusion in computing the total income under Section 10(10) of Income tax Act . Any death-cum-retirement gratuity received under the revised Pension Rules of the Central… Read More »