Taxable amout
This query is : Resolved
Vinod Kumar Shukla
(Querist)
31 March 2014
Dear Expert,
One of my client retired from job on 27/02/2013 and got rs.5,54,907/- as gratuity and his employer deducted tds around rs.28,000/- on full payment. Now he wants to file his return.
I want to know whether full amount is taxable or a certain portion of it should be taken as taxable income?
Please guide me.
Thanks & Regards,
Vinod Shukla
One of my client retired from job on 27/02/2013 and got rs.5,54,907/- as gratuity and his employer deducted tds around rs.28,000/- on full payment. Now he wants to file his return.
I want to know whether full amount is taxable or a certain portion of it should be taken as taxable income?
Please guide me.
Thanks & Regards,
Vinod Shukla
Rupesh Jain
(Expert)
31 March 2014
YOU HAVE NOT MENTION THE GOVT EMPLOYEE OR PVT SECTOR.
IF CLIENT IN GOVT SECTOR THEN NO AMOUNT WILL TAXABLE IN GRATUITY.
IN PVT SECTOR
RS. 10 LCAS
15 DAYS SALARY OF EVERY COMPLETE YEAR OMN LAST SALALRY
ACTUL RECD
WHICH EVER IS LESS WILL EXEMPT
IF CLIENT IN GOVT SECTOR THEN NO AMOUNT WILL TAXABLE IN GRATUITY.
IN PVT SECTOR
RS. 10 LCAS
15 DAYS SALARY OF EVERY COMPLETE YEAR OMN LAST SALALRY
ACTUL RECD
WHICH EVER IS LESS WILL EXEMPT
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