Salary -
This query is : Resolved
19 October 2019
gratuity limit applicable for nov 2019 examinations (ca inter) in case of employees not covered under gratuity act
26 May 2020
20 lakh
Income Tax Exemption on Gratuity. Gratuity is a benefit given by the employer to employees. A recently approved amendment by the Centre has increased the maximum limit of gratuity. Now it is tax exempt up to Rs 20 lakh from the previous ceiling of Rs 10 lakh, which comes Section 10(10) of the Income Tax Act.
Income Tax Exemption on Gratuity. Gratuity is a benefit given by the employer to employees. A recently approved amendment by the Centre has increased the maximum limit of gratuity. Now it is tax exempt up to Rs 20 lakh from the previous ceiling of Rs 10 lakh, which comes Section 10(10) of the Income Tax Act.
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