govt. employees for income tax purpose
This query is : Resolved
CA Deepesh Ruhela
(Querist)
22 July 2015
A person who has retired from Nationalised bank. For the purpose of calculation of Income tax on gratuity do we have to consider him a GOVT. EMPLOYEE or not as this consideration creates huge distinction in taxability.
CA R SEETHARAMAN
(Expert)
22 July 2015
Income tax on Gratuity is exempted for Nationalized bank, it is as per Gratuity Act. Bank employees are not Govt. employees.
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