A person working for Public Ltd Company Govt of India Undertaking, has taken Voluntary Retirement in the year 2016, and has received Gratuity of Rs.6,60,384. What will be the Gratuity exemption? Whether fully exempt or Exempt to the extent as said in Gratuity Act 1972. ???
Please solve the query.
Thanking you.
@ Rameshwar
since the employer is goverment whole amount of gratuity is exempt.As according to sec. 10(10) for govt. employees whole amount of gratuity received is exempt.
if gratuity received by an employee of central government or state government or local authority but does not include statutory corporation, is wholly exempt from tax
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