Incometax exemption on Gratuity payment amended to Rs.10.00

I read the same news in the news paper but i did not find any notification related to it.

Dear Mr. Swamy,

Enclosed herewith word doc for details.

Regards

Hitesh

I don't think there is a need to specifically amend the IT Act/Rules, because sec 10(10) does not mention the limit of Rs.350000. It only gives the limit as mentioned in the sec 4 of Gratuity Act. Therefore once the Gratuity Act is amended, the exemption limit is automatically revised.

agreed with siddarth sec 10(10)(ii) says as specified in section 4 of Grauity Act