Gratuity exemption

162 views
User Avatar

B.Com
53 Points Posted on 30 December 2020

Gratuity  received on completion of service period of 6 year and then take up appointment with another employer. Will eligible for exemption under section 10 for private employee

0 Reply Share Follow
On 30 December 2020 at 10:12 Report
Replies (2)
Quick Summary
This discussion clarifies whether private employees are eligible for gratuity exemption under Section 10(10) of the Income Tax Act. The consensus is yes, provided certain conditions are met. The exemption limit is calculated based on the gratuity received or 10 months' average salary, whichever is lower, with a maximum cap of ₹20 lakhs.

User Avatar

Chartered Accountant
24588 Points Posted on 30 December 2020
Yes exemption can be available u/s 10(10) maximum limit is 20 lacs rupees by calculating the gratuity received by you and the 10 month's average salary whichever is lower
Reply
On 30 December 2020 at 11:20
User Avatar

Tax consultant
5895 Points Posted on 30 December 2020
Yes exemption is there
Reply
On 30 December 2020 at 11:35

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Guidance Required on Filing Fresh Registration und
  2. IT Return Refund Status AY 2026-27
  3. Clarification Regarding Income Tax Demand Notice
  4. Online PAN Download: Check How?
  5. Demand of Late fee/Interest under section 75 of GS
  6. DSC registration on TRACES portal
  7. Can we get registered for MCA if we get a Virtual
  8. DONATION PAYMENT REG
  9. GST IDS Refund – Statement 01A: Invoice Not
  10. TDS deposit code & TDS return

More recent discussions | Post

Related Topics :

Loading