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graduity

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(Querist)
09 December 2009 What is d graduity exemption limit for the A.Y. 2009-10 ?
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
09 December 2009 For Government employees it is fully exempt.

Maximum Rs.3,50,000/-. if it is received under the Payment of Gratuity Act, 1972.

In other case-

1/2 month's salary for each year of completed service (calculated on the basis of average salary for the ten months immediately preceding the month in which any such retirement took place)

Maximum in this case also Rs.3,50,000/-

Ca Rakhecha
Surat
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
10 December 2009 agree
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vishal zukale

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vishal zukale (Querist)
10 December 2009 thanks sir
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