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Gratuity

This query is : Resolved 
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(Querist)
04 December 2015 Is Gratuity received by shipping corporation of India Limited Exempt?If yes under which section?The amount received is above Rs 10 Lakhs
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Amol S Joglekar

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Amol S Joglekar (Expert)
04 December 2015 Around 63.75 % shares are held by Central Govt/State Govt. So it is a Govt company.

You need to check with the finance dept of the company if the gratuity is paid as per the revised Pension Rules of the Central Government

The point is gratuity would be exempt accordingly : either sec 10(10)(i) OR sec 10(10)(ii)
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