Exemption of Gratuity recieved

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Student
10 Points Posted on 02 September 2021
When a person retired on 31st January 2018, received Gratuity of 10 lakhs. later on 31st March 2021 receives Gratuity of 5lakhs. is 5 lakhs exempt from tax as he has received after 29th Mar 2018 or it is not exempt as he has retired before 29th March 2018?
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On 02 September 2021 at 15:26 Report
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Quick Summary
This discussion clarifies the tax exemption for gratuity payments. The key factor for exemption is the date of retirement, not the date the gratuity is received. Therefore, if an individual retired before March 29, 2018, any subsequent gratuity payments, even if received in instalments after that date, are generally not eligible for tax exemption.

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SEO Sai Gr. Hosp.
212482 Points Posted on 02 September 2021

Date of retirement is important, and not the date of receipts of installments. Hence, taxable...

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On 02 September 2021 at 15:54
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Student
10 Points Posted on 02 September 2021
Okay thank you Sir
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On 02 September 2021 at 15:55

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