Payment of Gratuity
This query is : Resolved
21 May 2009
A person works in a company for five years and he is entitled to get gratuity when he terminates the office.Again he joins some other office. whether the five year which he had worked in previous Ofice ll be taken in to account.Or from the beginning he have to start fresh.........
22 May 2009
A salaried employee receive gratuity at the time of death or retirement and his gratuty exempts on least of some condition, which cover 2 cases whether his gratuity covered under the payment of gratuity Act or not...!!!
His earlier period of service from where he had retired will not be taken in his next time of calculation of exemption Gratuity from tax but note the below point for one of the exemption limit-
--- When Gratuity is received from more than one employer during different periods of time, the maximum exemption claimed by the assessee in his life should not exceed Rs. 3,50,000/-
His earlier period of service from where he had retired will not be taken in his next time of calculation of exemption Gratuity from tax but note the below point for one of the exemption limit-
--- When Gratuity is received from more than one employer during different periods of time, the maximum exemption claimed by the assessee in his life should not exceed Rs. 3,50,000/-
CA Nitin Wadhwani
(Expert)
22 May 2009
It will start afresh.
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