urgent :- gratuity income
This query is : Resolved
Sanjay Kumar
(Querist)
08 June 2011
i retired in 2008 and received gratuity 461463/-.
in f.y. 2010-11 i received arear gratuity 181560/- so what is treatment of this income
in itr
in f.y. 2010-11 i received arear gratuity 181560/- so what is treatment of this income
in itr
CA PARAS BAFNA
(Expert)
11 June 2011
In case you are a Non-Govt employee, in my view, it is going to be taxable income as maximum benefit allowable to you of Rs.3.50lac must have been exhausted by you at that time. .
Sanjay Kumar
(Querist)
12 June 2011
Employee in Syndicate Bank
than what is treatment
than what is treatment
CA PARAS BAFNA
(Expert)
12 June 2011
Syndicate Bank employees are not defined as Government employees. The amount as such received by you will be treated as taxable.
However, provisions of claiming relief U/s 89 are available and for that you have to
get services of a CA.
However, provisions of claiming relief U/s 89 are available and for that you have to
get services of a CA.
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