Section 10(10)(iii) Archives

No Income tax on Gratuity to the extent of limit specified

By CA Satbir Singh | September 7, 2015

No Income tax on Gratuity to the extent of limit specified Q Whether the Corporation can deduct income tax from the gratuity amount on the ground that the gratuity is paid under the Regulations and not under the Act ? Incomes not included in total income:- Section 10.(10)(iii) any other gratuity received by an employee… Read More »

Retirement includes resignation in section 10(10AA) and 10(10)(iii)

By CA Satbir Singh | September 7, 2015

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Retirement includes resignation Q Whether per the provisions of section 10(10AA)(ii ) (Leave Encashment) and section 10(10)(iii) (Gratuity) the exemption is available only on retirement and not on resignation ? Both “retirement” and “resignation” result in the conclusion of the service career. In fact resignation from service is also one of the modes of retirement… Read More »