DEATH CUM RETIREMENT GRATUTY
This query is : Resolved
01 June 2024
DEAR SIR,
ONE OF MY CLIENT RECEIVED DEATH CUM RETIRED GRATUTY AMOUNT RS 13,21,620/- PREVIOUS YEAR THE AMOUNT TREATED AS A SALARY IS COMPLETELY EXEMPTED U/S 10(10).
REGARDS
ONE OF MY CLIENT RECEIVED DEATH CUM RETIRED GRATUTY AMOUNT RS 13,21,620/- PREVIOUS YEAR THE AMOUNT TREATED AS A SALARY IS COMPLETELY EXEMPTED U/S 10(10).
REGARDS
02 June 2024
you have to do necessary calculation as per coverage of your employer in gratuity act
15 August 2025
1. What is DCRG and how is it calculated?
It is a one-time lump sum paid to a government servant or their legal heirs upon retirement or death (minimum 5 years of qualifying service). The calculation: ¼ of last pay (emoluments) for each completed half-year of service, capped at 16½ times the emoluments
pension.mp.gov.in
Legitquest
.
2. Tax Treatment:
Gratuity received due to retirement or death is exempt under Section 10(10) of the Income Tax Act. If the amount exceeds ₹20 lakh, only the excess portion is taxable. Relief may be claimed under Section 89, with Form 10E being required
clearconsultancy
.
3. Latest Update for UPS Subscribers:
Government employees under the Unified Pension Scheme (UPS) are now eligible for gratuity similar to OPS, in addition to the existing lump-sum payment (10% of emoluments per half-year of service). The gratuity cap is now enhanced to ₹25 lakh
It is a one-time lump sum paid to a government servant or their legal heirs upon retirement or death (minimum 5 years of qualifying service). The calculation: ¼ of last pay (emoluments) for each completed half-year of service, capped at 16½ times the emoluments
pension.mp.gov.in
Legitquest
.
2. Tax Treatment:
Gratuity received due to retirement or death is exempt under Section 10(10) of the Income Tax Act. If the amount exceeds ₹20 lakh, only the excess portion is taxable. Relief may be claimed under Section 89, with Form 10E being required
clearconsultancy
.
3. Latest Update for UPS Subscribers:
Government employees under the Unified Pension Scheme (UPS) are now eligible for gratuity similar to OPS, in addition to the existing lump-sum payment (10% of emoluments per half-year of service). The gratuity cap is now enhanced to ₹25 lakh
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