Central Govt has amended Gtratuity Act w.r.t. max limit of gratuity to Rs. 20 lakh
Should section 10(10) of Income Tax Act be also be ameded to raise maximum exempted amt to Rs. 20 from Rs.10?
Central Govt has amended Gtratuity Act w.r.t. max limit of gratuity to Rs. 20 lakh
Should section 10(10) of Income Tax Act be also be ameded to raise maximum exempted amt to Rs. 20 from Rs.10?
Yes
thank you very much sir, ... raising max limit of grauity to 20 lakh does not means that it automatically increase the specified limit described in section 10(10). if section 10(10) speaks that max amount of gratuity is that as set in gratuity act then only no amendement would have been required.
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