Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Income taxability

Tax queries 145 views 1 replies

Divyesh

Account and Tax Consultant

43 Points Joined May 2014

A GOVT EMPLOYEE EXPIRED ON 05/12/2016.

FOLLIWING AMOUNT RECEIVED BY HIS FAMILY

HIS GROSS SALARY WAS RS. 54000/-

GRATUITY - 950000/-

PF - 2165000/-

EX-GRATIA - 600000/-

LEAVE ENCASHMENT - 465000(AFTER TDS)

DBF(SOCIETY DEATH BENEFIT FUND) - 165000/-

WHAT IS THE TAXABILITY FOR FILLING INCOME TAX RETURN???

Replies (1)

Gratuity fully exempt for govt employess u/s10(10A). PF is exempt u/s 10(12). Leave encashment fukky exempt for govt employees u/s 10(10AA). Ex gratia is not taxable as it is a financial benefit to deceased family no employer employee relation exists refer circular no 309 dated 3-7-1981. Taxability Salary taxable 54000 Add society fund 165000 Gross income 219000