retirment benefits received from RBI is taxable or exempt u/s 10(10)
5 Replies
vamsi krishna
(Chartered Accountant)
(284 Points)
Replied 12 December 2017
what are retirement benefits that u have received ?/
vamsi krishna
(Chartered Accountant)
(284 Points)
Replied 13 December 2017
Exempted Incomes : Section-10(10)-Sec-10(A)-Sec-10(AA)-Sec-10(B) |
|
15. Gratuity [Section 10(10)] A. Death-cum-retirement gratuity received by Government servants [Section 10(10)(i)] Section 10(10)(i) grants exemption to gratuity received by Government employee (i.e., Central Government or State Government or local authority).
B. Gratuity Received by a Non-Government Employee covered by Payment of Gratuity Act, 1972 [Section 10(10)(ii)] As per section 10(10)(ii), exemption in respect of gratuity in case of employees covered by the Payment of Gratuity Act, 1972 will be lower of following :
15 days’ salary × years of service.
Maximum amount specified, i.e., Rs. 10,00,000.
Gratuity actually received.
|
Nandini Nandu
(20 Points)
Replied 16 December 2017
I AM ASKING WHETHER RBI FALLS UNDER GOVERNMENT COMPANY OR NOT
vamsi krishna
(Chartered Accountant)
(284 Points)
Replied 18 December 2017
No, RBI is an independent organisation
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