gratuity exempt limit
This query is : Resolved
18 October 2010
For A.Y.2010-11 how much gratuity exempt limit provided as per income tax.
18 October 2010
The government has enhanced the income tax exemption limit on gratuity from Rs 3.5 lakh to Rs 10 lakh, with effect from May 24,2010.
However, gratuity up to Rs 3.5 lakh is exempt from tax under the provisions of Section 10(10) of the Income Tax Act, 1961 for the AY 2010-11.
However, gratuity up to Rs 3.5 lakh is exempt from tax under the provisions of Section 10(10) of the Income Tax Act, 1961 for the AY 2010-11.
18 October 2010
For details regarding Tax Treatment of Gratuity see following link---
http://taxguru.in/income-tax/tax-treatment-of-gratuity-under-the-income-tax-act-1961.html
http://taxguru.in/income-tax/tax-treatment-of-gratuity-under-the-income-tax-act-1961.html
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