TDS on Gratuity Payment
This query is : Resolved
07 June 2010
Hi,
A company is paying Gratuity to an ex employee now. He ceased to be employee during the year 2008-09 and his gratuilty liability is being cleared now. It is around 75K. Since, the payment is below basic exemption limit of Rs 1.60 lakhs, is there any liability to deduct tax on this payment? Please clarify.
Thanks
ashok
A company is paying Gratuity to an ex employee now. He ceased to be employee during the year 2008-09 and his gratuilty liability is being cleared now. It is around 75K. Since, the payment is below basic exemption limit of Rs 1.60 lakhs, is there any liability to deduct tax on this payment? Please clarify.
Thanks
ashok
08 June 2010
At present not exceeding exemption limit - no need to deduct the TDS
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