GRATUITY EXEMPTION LIMIT FOR FY. 2024-25

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This query is : Resolved

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The maximum limit for gratuity has been raised to £25 lakhs from £20 lakhs, effective from 1st January 2024. This discussion seeks clarification on whether the income tax exemption limit has also been increased accordingly, or if it remains at £20 lakhs.

GNPS Punjabi Bagh

GNPS Punjabi Bagh (Querist)
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04 October 2024 From FY 2024-25 Gratuity Maximum limit has been increased upto 25 lakh from 20 lakh. So i want to know whether exemption limit in income tax still 20 lakh or it is increased.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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04 October 2024 This enhancement will be effective from 1st January 2024.
Refer Press note:: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2022470

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 October 2024 Good luck ....

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