quary abt notified amount of Gratuity

FOR A/Y 2010 11

IT IS 350000

w.e.f. 25-05-2010, the amount is Rs. 10 Lakhs.

In addition to what  said by the above members, I advise you to please go through the RTP of the Nov. 2010

 exams.

ICAI can do anything.........

1000000 IS APPLICABLE FROM MAY

WHICH WILL BE TAXABLE IN A/Y 2011 12

U HAVE TO THINK NOW

So for law purpose it will b 1000000 and for tax purpose it will b 350000 .am i right?

HI SAMARJIT,

THERE IS NO SEPERATE LIMIT FOR LAW AND FOR TAX. FOR U;R STUDY PURPOSE, SINCE THE QUESTIONS ARE BASED ON AY 2010-2011. THUS, FOR AY 2010-2011, LIMIT WAS RS. 350,000 ONLY. CHANGES HAS BEEN EFFECTIVE FROM FY 2010-2011, THUS, FOR STUDY PURPOSE, IT WILL BE RS. 350,000 ONLY.

REGARDS,

MANOJ

but in MANISH Bhandaries Law book it is written 100000 and and all the Tax books it is written 350000

so suppose a quistion comes in nov 10 IPCC about Gratuity in law paper(suppose a case law or practical quistion)

what would be the answer?

and suppose a numarical quistion comes in a Tax paper?

w.e.f. 25-05-2010, the amount is Rs. 10 Lakhs. n i think for paper amendments are applicable only upto 30/04/10 so old one is applicalbe

With  effect  from  the  notification  in  May  2010,  this  limit  is  increased  to  Rs  10  lakhs.

it is 3,50,000/-