gruachity
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2011
upto what amount of gruachity is free from income tax?
CA Pradeep Sharma
(Expert)
25 March 2011
Rs. 10 lakh free from tax
CA.ViVeK M ACA
(Expert)
25 March 2011
The maximum amount which is exempt from tax by income tax Act is Rs 10 lakh. But it is subject to Gratuity rules.
25 March 2011
Continuing the above observations, for full details the following notifications can be referred to.
1) S.O.1217(E) dated 18/5/2010
2) CBDT notification 43/2010 dated 11/6/2010.
1) S.O.1217(E) dated 18/5/2010
2) CBDT notification 43/2010 dated 11/6/2010.
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