Income tax on Arrear gratuity
This query is : Resolved
01 April 2021
I am a retired bank officer retired on 31-12-2017. After 11 BPS I got Arrear gratuity of Rs.3.5 lac . previously i got 10 lac as gratuity when retired. That time as per central govt Rs.20lac gratuity is exempted for tax. from 30-03-2018 banking industry also introduce Rs. 20 lac gratuity ceiling.
my question whether arrear gratuity iwill be taxable now. or commutation of pension is taxable. please answer quoting section of ITax.
my question whether arrear gratuity iwill be taxable now. or commutation of pension is taxable. please answer quoting section of ITax.
24 September 2021
The arrears of the gratuity, being within exemption limit, will not be taxable.
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