Gratuity is deducted monthly by employer- dedn u/s. 80c ?
This query is : Resolved
04 March 2017
Hello everyone,
one of my clients salary slip is as under
basisc - 32500
HRA - 12500
Gratuity-1563/-
total - 46563
less: tds - 3000
less: gratuity-1563
net salary-42000
My question
can we claim deduction of gratuity under section 80C similar to EPF ??
one of my clients salary slip is as under
basisc - 32500
HRA - 12500
Gratuity-1563/-
total - 46563
less: tds - 3000
less: gratuity-1563
net salary-42000
My question
can we claim deduction of gratuity under section 80C similar to EPF ??
CA Chandan Sharma
(Expert)
04 March 2017
No you can not claim gratuity deduction under section 80C of the Income Tax Act, 1961.
Exemption is allowed at the time of superannuation, retirement or resignation, death or disablement due to accident or disease-with some restriction.
Exemption is allowed at the time of superannuation, retirement or resignation, death or disablement due to accident or disease-with some restriction.
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