Exemption from Tax for Gratuity Payments Enhanced from Rs. 3.5 Lakh to Rs. 10 Lakh
The Central Board of Direct Taxes has approved notification of ten lakh rupees as the maximum amount of gratuity entitled to exemption under sub-clause (iii) of clause (10) of section 10 of the Income Tax Act 1961.
The notification will be applicable to employees who retire, or become incapacitated before retirement, or expire, or whose services are terminated, on or after the 24th May 2010.
News posted by
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Chirag N Shah & Associates
Mumbai
CA Inter
View Details
Gowra Ventures Pvt Ltd
Hyderabad
CA
View Details
Vakilsearch.com
Chennai
CA Inter
View Details
CAclubindia
