gratuity reveived by a govt. employee on retirement is exempted from tax. does delay on payment on such gratuity is also exempted?
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obviously exempt. delay in payment does not alter the nature of payment
yes. doesn't matter. fully exempted.
there is no time limit prescribed by the income tax law, no doubt it's exempt
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.
interest for late payment is also exempted up to slab limits. follo slabs.
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