exemption of gratuity paid/payable during fy2010-11
This query is : Resolved
01 May 2010
the upper limit of gratuity payable was enhaced from the present level of Rs.350000/ to Rs.1000000/.as per payment of gratuity act.now what will be exemption limit of gratuity under income tax act (as amended)
01 May 2010
Since income tax act is not ammended the limit under income tax continues to be Rs.350000
02 May 2010
The limit of 1000000/- has not been approved yet, so current limit of rs 350000/- will continues.
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