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Disclosure of Gratuity and leave encashment
If an assesse receive Gratuity and leave encashment at the time of retirement then whether it is require to disclose it in the ITR and if yes then where to disclose? Please guide...
Replies (2)
yes it is require to disclose in the ITR under exempt income under section 10
Hi Raj,
Salary, inter alia, includes gratuity and leave encashment. However, exemption for gratuity and leave encashment at the time of retirement is available u/s 10(10) and 10(10AA) respectively.
The taxable amount = Amount received (minus) Amount exempt
If there's any taxable amount, then such amount shall be charged to tax u/h Income from Salaries.
Salary, inter alia, includes gratuity and leave encashment. However, exemption for gratuity and leave encashment at the time of retirement is available u/s 10(10) and 10(10AA) respectively.
The taxable amount = Amount received (minus) Amount exempt
If there's any taxable amount, then such amount shall be charged to tax u/h Income from Salaries.
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