gratuity reveived by a govt. employee on retirement is exempted from tax. does delay on payment on such gratuity is also exempted?
Poltu Ghosh
(Job)
(1865 Points)
Replied 27 April 2017
pankaj
(Senior Auditor In Bank Audit Dept. And Income Tax dept.)
(52 Points)
Replied 27 April 2017
Dhaval Thakkar
(CA)
(55 Points)
Replied 28 April 2017
SUNEEL KUMAR
(Sr. Accounts & Finance Executive)
(163 Points)
Replied 29 April 2017
Agree with all Experts ......it's exempt
RAKSHIT MEHTA
(tax consultant)
(114 Points)
Replied 29 April 2017
sorry i forget to write intrest. it is, "does intrest on delayed payment of such gratuity is also exempted?" provided assesse is govt. employee
CA Sujeet Kumar
(Self-Practice)
(738 Points)
Replied 30 April 2017
Yes dear Interst on lumpsum gratuity on retirement due to delay payment of gratuity will be taxable as other income but it will taxable only if amount of interst is more than Rs. 2.5 lacs/5 lacs.
pankaj
(Senior Auditor In Bank Audit Dept. And Income Tax dept.)
(52 Points)
Replied 08 May 2017
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
