Gratuity
This query is : Resolved
CA Chintan Parikh
(Querist)
10 December 2012
Dear Sir,
Is Gratuity Received by employee of Bank Of India Taxable or Exempt ?
Whether he is covered under the meaning of government employees under income tax act for Gratuity Purpose and can Claim Fully Exemption of Gratuity received at the time of retirement of service?
Is Gratuity Received by employee of Bank Of India Taxable or Exempt ?
Whether he is covered under the meaning of government employees under income tax act for Gratuity Purpose and can Claim Fully Exemption of Gratuity received at the time of retirement of service?
10 December 2012
Hi
Bank of India is government undertaking & they are receiving gratuity in line with govt policy & it is 100% exempt.
Also as per my knowledge they wont be getting more than Rs. 10 lac gratuity, if it is so pl let me know for my information.
Thanks//Vaibhav
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Bank of India is government undertaking & they are receiving gratuity in line with govt policy & it is 100% exempt.
Also as per my knowledge they wont be getting more than Rs. 10 lac gratuity, if it is so pl let me know for my information.
Thanks//Vaibhav
Revert for more clarity.
Click thank button to convey your appreciation.
CA Chintan Parikh
(Querist)
11 December 2012
Thanks for Reply.
Is their any Notification or circular in this regard
Is their any Notification or circular in this regard
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