Relief on gratuity

SAGAR (Proprietor ) (33 Points)

05 August 2016  

I retire from a PSU in Jan-2016 after 38 year of service and I have received Gratuity Rs.1196000/-. As per Income Tax Act Gratuity payable above Rs.10 lac is taxable. Please confirm whether I am eligible for section 89 relief under Rule 21A, sub-rule (3)