Please inform Amount received as Gratuity & commuted portion of Pension, where we have to show in ITR1
One is exempt Income.
2ns -The same is to be included in Salary ? or perquisites ?
Please confirm
Thanks
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Commuted portion of PEnsion & Gratuity
Replies (1)
Summary: Gratuity and commuted pension are reported under "Income from Salary." Include the full amount in "Gross Salary" and claim the respective exemptions under Section 10(10) or 10(10A) in the "Allowances exempt" section to reduce your taxable income. If claiming tax relief due to the lump sum, ensure Form 10E is filed first.
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