Gratuity received
This query is : Resolved
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
1. Gratuity - Rs. 17 lakhs
2. Leave encashment - Rs. 10 lakhs
3. Commuted Pension - Rs. 17lakhs
Regards
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.
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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