Company reported Gratuity income as salary income on AIS portal. Is this correct? or should I reject it in AIS?
Gratuity < 20 lakhs is tax exempted so should I show it as salary income and add the same amount as an exception under Section 10(10) ?
Menu
Gratuity income as salary income on AIS portal. Is this correct?
Replies (1)
Gratuity is typically reported separtely and is exempt from tax up to twenty lakhs under Section 10(10) of the Income Tax Act.
Handling in AIS:- If Gratuity is reported as salary income in AIS and it is less than twenty lakhs, you can show it as part of income but claim the exemption under Section 10(10) for the amont upto twenty lakhs
Recent Threads
- INTRADAY INCOME PRESUMPTIVE INCOME
- Clarification on Deemed Export Status for EOU-to-E
- LTCG Tax on property
- Short term gain in itr2, missing 111A
- Errors in ITR Filing: Minimum One Character Requir
- Which ITR Opt
- Employer Details for NRI
- Section 194C or 194J apply in survey fee to determ
- Accidental Switch to New Regime using Form 10-IEA
- Should I file Revised Return U/S 139 (5)?
Related Threads
CAclubindia
