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It treatment for gratuity received form 'lic of india'

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(Querist)
10 July 2013 One of my Client is a LIC Agent for the past 25 years and he have received around Rs.200000 as a gratuity settlement at the age of 60 years.He is still continuing as LIC agent.

How to treat in IT for his filing IT Returns ?
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
10 July 2013 Gratuity rec upto Rs 5laks is exempted.
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Senthilkumaran

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Senthilkumaran (Querist)
10 July 2013 Sir, its not right,because there is no employer-employee relationship between LIC of India and LIC Agent, So its taxable under the head other sources.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
10 July 2013 Normally gratuity is given only to employees how come agents started rec gratuity?
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