gratuity reveived by a govt. employee on retirement is exempted from tax. does delay on payment on such gratuity is also exempted?
gratuity reveived by a govt. employee on retirement is exempted from tax. does delay on payment on such gratuity is also exempted?
Agree with all Experts ......it's exempt
sorry i forget to write intrest. it is, "does intrest on delayed payment of such gratuity is also exempted?" provided assesse is govt. employee
Yes dear Interst on lumpsum gratuity on retirement due to delay payment of gratuity will be taxable as other income but it will taxable only if amount of interst is more than Rs. 2.5 lacs/5 lacs.
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