a person resigned from pvt.company 1 covered under payment of gratuity act worked for 8yrs 10 months, recvd gratuity 1.5 lacs .
he joined new company ,worked for 2 months during fy 2018-19.
while filing return ,he claimed deduction u/s 10(10) for 1.5 lacs .
however department issued notice stating that claim for deduction is not admissible, amount of deduction will be 0.
please suggest whether department is correct or not
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Gratuity received at the time of resignation
Replies (6)
Gratuity has been made tax exempt from Pvt Ltd Co (not covered under Payment of Gratuity Act) w.e.f 29.3.2018.
When did you resign ??
It must be before 29.3.2018 and hence AO must have disallowed it under 10(10).
When did you resign ??
It must be before 29.3.2018 and hence AO must have disallowed it under 10(10).
On 25/01/2019, there must be some other reason
If working in pvt company and not covered k case me bhi to exemption hai with certain limits
Yes, right exemption hai.
but i want to know if gratuity is taxable on resigning from one pvt.job and joining new pvt.job.
but i want to know if gratuity is taxable on resigning from one pvt.job and joining new pvt.job.
So total allowable only 10,00,000/- , number of employme does not matter
There is a paragraph in sec 10(10) which says, gratuity is fullly taxable if it is received while in employment
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