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Tax on Gratuity

ITR 193 views 2 replies
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9 Points Joined July 2020

I have resigned from my company and received Gratuity on 4th June 2020, does it have tax liability? Do I have to show while filing the ITR next year ie for FY20-21? 

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On 19 July 2020 at 15:08 Report
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155 Points Joined March 2018
At present exemption limit of income tax liability in gratuity is Rs. 20 lakh.
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On 19 July 2020 at 17:06
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Tax and Business Consultant
11616 Points Joined July 2015
In FY 2020-21, if an individual receives gratuity, then maximum tax-exempt gratuity will be Rs 20 lakh in his/her lifetime for non-government employees. For those who are not covered under the Payment of Gratuity Act 1975, the MAXIMUM limit is still Rs. 10 lakhs.
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On 23 July 2020 at 10:22

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