Gratuity received

This query is : Resolved

abhishek sikka (Querist)
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30 July 2014 I have retired from Indian Navy and I have received following amount. Please tell the tax treatment:

1. Gratuity - Rs. 17 lakhs
2. Leave encashment - Rs. 10 lakhs
3. Commuted Pension - Rs. 17lakhs

Regards

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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17 August 2014 All are income exempted from Tax.

Gratuity u/s 10(10)
Leave Encashment u/s 10(10AA)
Commuted Pension u/s 10(10A)

You will be required to file ITR2 since exempted income is more than Rs 5000/-.

Amount to be shown in Exempted Income Sheet under Sl. No 5 Others of ITR2 while filing Income tax Return.

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