Exemption in case of gratuity
This query is : Resolved
25 July 2019
What is the maximum exemption for Gratuity receipt in the case of employees covered under payment of Gratuity Act,1972.
31 May 2020
20 lakh
Income Tax Exemption on Gratuity. Gratuity is a benefit given by the employer to employees. A recently approved amendment by the Centre has increased the maximum limit of gratuity. Now it is tax exempt up to Rs 20 lakh from the previous ceiling of Rs 10 lakh, which comes Section 10(10) of the Income Tax Act
Income Tax Exemption on Gratuity. Gratuity is a benefit given by the employer to employees. A recently approved amendment by the Centre has increased the maximum limit of gratuity. Now it is tax exempt up to Rs 20 lakh from the previous ceiling of Rs 10 lakh, which comes Section 10(10) of the Income Tax Act
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