It treatment for gratuity received form 'lic of india'
This query is : Resolved
Senthilkumaran
(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 ?
How to treat in IT for his filing IT Returns ?
10 July 2013
Gratuity rec upto Rs 5laks is exempted.
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.
10 July 2013
Normally gratuity is given only to employees how come agents started rec gratuity?
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