I WAS HEARED GRATUITY WILL CALCULATE = LAST SALARY X NO. Hello Sir, DEAR SIRS- MAY ANY EMPLOYER STOP GRATUITY , IN CASE OF VICTIMISED COMPULSORY RETIRMENT ON GROUNDS OF MEDICAL LEAVES(PROPERLY SANCTIONED BY COMPETANT AUTHORITY.)??? Sir, I have working in 8 years company, now I will married coming January 2012, the company give the gratuity amount Rs.166665/- (my salary per month 20000/-)and my work continue the company. Multiply this by 15 and then by 10. employees and PSU/private sector employees and also a common rule shall prevail for all citizens of India for calculating the income Tax. That I have rendered 12 years confirmed services to the organization . Option 2: Establish a gratuity fund, get it approved under provisions of Income Tax Act and contribute to it on a periodic basis. Hence the limit on the date of retirement time would alone have to be considered, so exemption with reference to the enhanced limit will not apply to the reader’s case. Tax treatment of gratuity :- For the purpose of exemption of gratuity under sec.10 (10) the employees are divided under three categories: 1. My Letter of offer has gratuity [email protected] of 1 month for each year of service .I received gratuity of less than 10 lacs for above calculation . In recent note, that provison created for payment of gratuity will not considered at exp for IT purpose, provided if it is paid within the year itself. ANSWER: Every time the limit has been raised, such limit has only referred to the retirement on or after the date on which it was raised. All gratuity received by an employee in terms of the Payment of Gratuity Act, is exempt from income-tax to the extent, it does not exceed an amount calculated in accordance with the provisions of sub-sections (2) and (3) of Section 4 of that Act. ” It is desirous of setting aside funds on a periodic basis to meet gratuity liabilities under Payment of Gratuity Act, 1972. Regarding gratuity the contract says “The gratuity payment shall continue to be governed as per payment of Gratuity Act.”. But I received a further amount of Rs. Do I have to pay income tax for this amount? enhanced the ceiling of Rs.10.00 lacks fully income tax free. Later they broke this corpus and placed a portion of it with ICICI Prudenctial. As the cabinet has already approved the enhancement will it not be possible for Finance Ministry/Department of Direct Taxes to issue Exemption Notification for Incometax exemption upto 10.00 Lakhs for Gratiuty payment received by retired employees. Would like to know whether Gratuity is payable to Private School Teachers serving in the state of Maharashtra and Gujarat. The Income Tax Department NEVER asks for your PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts through e-mail.. further on revision of salary, I received Rs. is a distribution licensee for electric supply in state of Maharashtra in predefined areas. Can this be paid through salary as a taxable component? Am I eligible for the higher exemption limit under Sec. My Employer is splitting the amount in taxable and non-taxable component despite amount lower than the exemption limit .Non-taxable based on (15/26) rule and taxable for remaining amount as i have a better gratuity contract which is also allowed in the act . Gratuity is exempt from Income tax upto Rs. 3) After retirement by age factor if service of such employee is extended then such extended period of service should be considered or not for determination of gratuity. respect of the payment of gratuity. Which employees of non-government establishment are eligible for Gratuity? Exemption shall be limited to half month salary (based on last 10 months average) for each completed year of service or Rs. Will it possible for me to give a declaration to my company stating that I will not claim gratuity and instead ask for my basic % to be increased? Tax Treatment of Gratuity as per Income Tax Act,1961 is covered U/S 10 (10) of the Act. Please guide in my e-mail ID, QUESTION: I am a pensioner from punjab State Government. Thanks & Regards, Suresh Verma (+91-98 183 949 37; [email protected]; [email protected]), IS gratuity transfer from one unit to another unit of same employer, hi In order to submit a comment to this post, please write this code along with your comment: 0b16950e171f0903a9d8cf94fb140381. Treatment of provision for gratuity in tax audit (3CA and 3CD). Hi All, undertaking is fully exempted or not under income tax act 1962 ? “For government employees the maximum limit for exemption is Rs 20 lakhs and for any other employees, the maximum limit of exemption is Rs 10 Lakhs. I retired in December 2015 receiving an amount of Rs. I have retired from PSU in dec 2007. You say in one para ” Gratuity payment to a widow or other legal heirs of any employee who dies in active service shall be exempt from income tax.” Taxable under what head:- Gratuity received by an employee on his retirement is taxable under the head “Salary” and gratuity received by the legal heir is taxable under the head” Income from Other Sources”. when it should be paid? explain why it should be paid? My question is1. In the next to next para you say ” gratuity received by the legal heir is taxable under the head” Income from Other Sources”. The trust must fulfills below conditions: A. I have 5Yr service in pvt school and I resigne the post so kindly send the process of gratuity how I receive and wjat os the procrdure Sir I am retired form pvt school from 30th Apr 2010. I would like to meet your panel of experts and discuss with them regarding income tax exempted gratuity amount. gratuity of rs.120000 is received in august 2007 to legal hire due to death of employee aged 45 on june 28 2007 is it taxable? Is Tax payable on the balance amount i.e. How much the tax percent i have to pay for gratuity Gratuity is a reward for long and meritorious service. I argued that since my contract included a payment under the head “salary” gratuity should be computed based on this Salary or at least on the basic indicated in the contract in connection with PF. 1. This contract was signed in January 2011 (I started working in this company in October 2001 and left in April 2012, in total 10 yrs 7 months). If not then how to show same to get exemption in ITR2. As on my contract “You will be entitled to gratuity as per the Payment of Gratuity Act. Should the employer deduct TDS on Rs 5 lac as per income tax rates of FY 2016-17 or 2017-18. employees, Defense employees and employees in... 2. It is given under the Payment of Gratuity Act, 1972. of years of service. God only knows I want to know whether TDS has to be calculated permonth taking their previous salary or simply start calculating from the month of August.Also I want to tell there are 3 employees who receive same salary and two other employees who receive a higher salary .want a detailed working of TDS of these 5 employee Take salary as 70000 and 40000. I am working in software concern which is a partner ship one and has more than 25 employee, since April 2007. If an organisation has it own set of rules past 10 years back that they will pay gratuity for continuous 10 years of service. Regards, Once the Govt has increased the limit of Gratuity to 10.0lakhs and allowed to Govt employees it should be allowed to all employees with same effective date ie.01-01-2006.If this same limit and effective date is not same as govt employees will it not be violation of fundamental rules? Gratuity is taxable when it is received under the head Income form salary. Once Gratuity act is amended to enhance the Maximum Payable to Rs 10 Lakhs, is there a ned to amend Income tax act for increasing Tax exemption limit on Gratuyity also? I am a member of this forum. in my company Vrs Declaired. 15 days salary can be calculated as under; In case of monthly rated employees, to calculate 15 day’s salary, the number of days in month will be taken as 26 working days so monthly salary shall be divided by 26 and multiplied by 15. 01-01-2007 in case of PSU employees. For the first year of assessment under this Act, the value of the trading stock included in the gross income of the taxpayer for the last year of assessment in terms of the previous law or which would have been included had he been liable for tax, shall be the value of the trading stock to be deducted for the purposes of this paragraph; 20 lakhs is raised by Notification No. Am I correct in this interpretation and should give an undertaking to repay gratuity and then take legal recource- as this in my benefit that my services would then be counted. Where the gratuity was received in any one or more earlier previous years also and any exemption was allowed for the same, then the exemption to be allowed during the year gets reduced to the extent of exemption already allowed, the overall limit being Rs. Is gratuity payable to the retired/ expired employees of Madhya Pradesh State Electricity Board (MPSEB) A Govt. 10000\-under Income Tax when we pay gratuity amount to the employee. pls February 9th, 2010 at 5:45 pm What would be tax. The gratuity amount will be calculated on 5 yrs or 6 yrs. PLS.GUIDE ME WITH LATEST VERSION.AND FROM WHERE CAN I DOWNLOAD THE LATEST CIRCULAR? 573 dated 21.08.90). I want to quit from my job, but gratuity will not calculate on over time amount. That I have joined the Mont Fort Sr. Regards Till such time I give this undertaking the application for re employment is not being forwarded. State Electricity Board in November 2009. Exemption of Death-Cum-Retirement Gratuity [Section 10(10)] Gratuity is a payment made by the … So can I go with ITR2 or in need to choose a differnt form. employees, Defense employees and employees in Local authority shall be wholly exempt from income tax. 10(10)(i) of the Income-tax Act irrespective of the date of retirement or the notification. Employee can claim relief under section 89 of Income Tax in case of taxable gratuity. The gratuity you are entitled to after 10 years of service will be Rs 1.5 lakh. Please guide. I will be completing 5 years shortly. the total period of service with the same employer is more than 5 years. It is taxed under the head Income from Salaries. I have completed 4 years 7 months in an arganisation, will i get the gratuity. of M.P. Tax Treatment of Gratuity as per Income Tax Act,1961 is covered U/S 10(10) of the Act. 3.50 lac to rs. Gratuity payable to government employees is fully exempt.For non government employee covered under Payment Of Gratuity Act,1972, the maximum limit for exemption is Rs 20 lakhs and for any other employees, the maximum limit of exemption is Rs 10 Lakhs. The gratuity payable to an employee shall be wholly forfeited: 1. I received Gratuity Rs 2600000 on 31-03-2017. In case the nominee is a minor; share of the minor shall be deposited with the controlling authority who shall invest the same for benefit of the minor, until he/she attains majority. Sir, Is this legally doable from the company side? According to the amendment, the benefit of high amount of gratuity will not be entitled for those who retired upto 23-4-2010? Gratuity Act, 1972 act envisages in providing retirement benefit to the workman who have rendered long and unblemished service to the employer. I have been working in my last organization for 6 year ,6 month and 10 days. I have worked in company for 8 yrs left in Dec 2018 but yet to receive graduity from my old company what to do, gratuity amount Rs 20,00,000/- lakhs is fully exempted income tax public sector employee those served about 40yrs service. PL EXPLAIN, Read more: https://www.taxguru.in/income-tax/tax-treatment-of-gratuity-under-the-income-tax-act-1961.html#ixzz0g2x14ngg. Gratuity payment to a widow or other legal heirs of any employee who dies in active service shall be exempt from income tax subject to provisions mentioned above Circular No. For computation of gratuity, your service period will be rounded off to the nearest full year. advise me for Income tax on applicable on the above payment. No TDS deducted from gratuity payment. And when the employee is entitled to gratuity on account of his death it would be fall in the hands of his/her nominee and would be charged under the head ‘Income from other sources’. it helped me a lot. Deloitte Touche Tohmatsu held that expenditure incurred towards club and hotel membership fees is an allowable expense under Section 37(1) of the Income Tax Act, 1961. 1. I have resigned on 15-04-2009 from the services of the school for my personal reason. Am I eligible for the enhanced benefit of gratuity from 3.5 lakh to 10 lakh. Formula :- Gratuity shall be calculated as per the below formula: Gratuity = Last drawn salary x 15/26 x No. I am receiving Rs.3,37000.00. The Income Tax Department appeals to taxpayers NOT to respond to such e-mails and NOT to share information relating to their credit card, bank and other financial accounts. 2. But in 1972 the government passed the Payment of Gratuity Act that made it mandatory for all employers with more than 10 employees to pay gratuity. M.C.Agrawal. I retired in jan 2008 receiving an amount of Rs. employees , private sector employees and PSU Company employees but income computation should be same for paying income tax for all the employees since IT is calculated on total income of a citizen why disparity? here my quetion is that I have resigned from an organisation after serving 12 years and received full and final settlement along with gratuity. i recd dratuity amount after retirement rs 10..lakhs taxeable amount ,i can claim uder section 89a. With Regards – Is the pension taxable? An average salary will be taken from 01.03.2012 to 31.12.2012. If paid to employees separately – whether the same needs to be taxed and then paid? [Section 4 (3)] [Of course, employer can pay more. Now if his gratuity is to be settled as per gratuity act or other wise (i.e., subsequent to 24 May 2010), while computing tax liability, whether the enhanced gratuity exemption limit of Rs 10.00 lakhs can be allowed. This is not a fair dealing and needs revision to give relief to all employees retired from 01-01-2007 onwards. While calculating completed years, any fraction of the year will be ignored. Meaning of Salary: For computation of salary as per point 2(1) as mentioned above means salary last drawn by the employee and includes dearness allowance but doesn’t include any bonus, commission, house rent allowance, overtime wages or any other allowance. 3.50 lac to rs. Your last drawn salary will comprise your basic + DA. However, family pension received by the dependents of the employee will be taxed under the head income from other sources as there is no employer employee relationship between the payer and payee. This is also one of the many retirement benefits. a) In respect of Employees covered Under the Payment of Gratuity Act, 1972: As per the Act, the gratuity amount is 15 days’ wage multiplied by the number of years put in by you. After this exemption the rest will be taxable in the hand of employee under the head SALARY. Is this amount taxable for current year ? The limit of payment of gratuity is approved by GOI only While doing tax Audit under section 44AB of income tax act one may come across the disallowances u/s 43B . Now my question is that instead of resigning from services if anybody was terminated by company, then is company is liable to pay Gratuity. I reired on 31march 2017andgot rs 10,00,000.gratuity .in the year june 2018i got arrears 10,00,000. ... Gratuity Act, 1972 act envisages in providing retirement benefit to the workman who have rendered long and unblemished service to the employer. Gratuity paid to public sector employees is fully exempted or not under the income tax act 1962. 1.1.2007. Do I have to show this amount to current company ? My mother retired from state government service (Maharashtra State). Tax treatment of Gratuity under the Income Tax Act, 1961 Showing 1-1 of 1 messages. 50,000/- (at the time of retirement) and no. Besides, I was deprived from so many other things verbally promised. The right of forfeiture is limited to the extent of damage. 20 Lakh with effect from 29.03.2018, earlier limit was Rs. The trust would be assessable as an AOP as per clause (iv) to first proviso to section 164 (1). Tax returns: where no return is furnished 69. If the service of such employee have been terminated for any act which constitutes an offense involving moral turpitude, provided that such offense is committed by him in the course of his employment. Are there any slab for gratuity amount for income tax exemption? 2. Understanding the Basics of Gratuity. The depoisted amount stright way to my bank. Kindly provide the guide lines on this issue. Hi, A set of our company employees (Process) has been sold to other company. My colleague retired on 30 April 2010. The GOI has approved the pay revision for PSU company employees in Sept 2009 which are effective from 01-01-2007 and the gratuity limit was also increased from 3.50 lakhs to 10.0 lakhs.and its effective date is also from 01-01-2007. but the arrears are paid in 2009 ( at least Govt did not deny the payment of arrears of salary revision thanks a lot) Secondary School Kamrith village Ballarpur July 1995,and got confirmation of services on 1st June 1997. If an employee has worked in a private organisation for 4 years and 8 months, Will he/she be eligible for gratuity? Hi, 10, 00,000. Nomination facility: – Yes, by filling Form “F” at the time of new joinee formality, each employee is required to nominate one or more member of his family, as defined in the Act, who will receive the gratuity in the event of the death of the employee. 1)To Determine amount of gratuity for non govt employee having no pension benifit , whether last ten monthly basic + Grade pay OR Basic + Grade pay Dearness Allow . Formula :- Gratuity shall be calculated as per the below formula, Gratuity = Last drawn salary x ½ x No. If gratuity received by employee from more than one employer in same financial year or different years, agreement maximum amount of gratuity cannot exceed Rs. Gratuity is a reward for long and meritorious service. This is wrong. Gratuity Calculator: Calculate your gratuity amount with using this gratuity calculator online. Estate manager who appoint in 2002 for one year contract and contract renew every year at salary Rs.23000/- per month lump sump. Earlier, it was not compulsory for an employer to reward his employee at the time of his retirement or resignation. Some portion of gratuity received is exempt from tax as per Section 10 (10) of the Income Tax Act and we will see how exemption is calculated. He was asked to resign otherwise, he would be terminated from service as his performance was not upto the mark. Applicability of the Gratuity Act, 1972: The act provides for the payment of gratuity to workers employed in every factory, mine, oil field, plantation, port, railways, shop & Establishments or educational institution employing 10 or more persons on any day of the proceeding 12 months. Gratuity may be one of the components of your CTC. let me explain whether he entitled for gratuity or not. Returning back the gratuity then would legally mean that the services rendered before resignation would be continued and seniority will be continued. My basic salary was 37700 p.m. My company pays 1 month’s basic as gratuity for every completed year of sevice. All Rights Reserved. The amount of gratuity as calculated above shall not exceed Rs. If the employer has paid gratuity on 01/04/2017 and has included the gratuity amount in the income of the employee for the FY 2016-17, what can be done? – I have some short term gains for intraday trades. Read more: https://www.taxguru.in/income-tax/tax-treatment-of-gratuity-under-the-income-tax-act-1961.html#ixzz0kVSWwvAm. Worked in a Private company for 30 years and got gratuity amount more than the amount exempted under Income Tax Act. Taxable if gratuity received to legal heir of the employees who die while he was not in active service. Am I suppose to receive additional amount of Rs 6,50,000 as gratuaty with Tax or without Tax from the company. Can I approach the school with Amendement act of 2009 wherein Employee definition includes teachers and 2. Gratuity:- Gratuity’ is a retirement benefit. Take an example. Is this correct or i am entitled for full exemption as amount received is less than 10 lacs? i have worked in mahastra as teacher for 12 years during 1958 to 1972. The PSU has approved policy of re employment on same pay that was last drawn after settlement of all dues like Gratuity and Leave encashment being fresh appointment. It is stated that the reader is a government pensioner. 6.5 lakh is taxable along with other income under the head salary. If the services of such employee have been terminated for his riotous or disorderly conduct or any other act of violence on his part, or. I want to know whether am I eligible for Gratuity. If the reader is a retiree from the civil service of a State or held a civil post under a State or had even been an employee of a local authority, the gratuity amount, that is received, is totally exempt vide Sec. Here, organisation is same but different branches. I hope it is correct. My questions are: –. Very Nicely Explained, Than You Very Much. but the organisation change according to the time and adopt a new rule of gratuity for 5 years of continuous service. The incomtax is payable on the gratuity paid which is more than 3.50 lakhs. After resignation I received gratuity amount from my previous employer. Pls. Commissioner of Income Tax vs. M/s. Any death cum retirement gratuity received by Central and State Govt. Pl. 3.50 lakh. Pay commission scales and the 2nd and most important is that the private sector employees may get the final payments (in collusion with employers) in the name of gratuity so that they may evade the IT from their earnings otherwise there should not be any limit on gratuity amount for exemption for IT calculations. 3. 15000/- per month and PF is 12% of the basic. Notify me of follow-up comments by email. So please reply whether it has been on it or not. The aforesaid provisions of the payment of Gratuity Act read as follows-Payment of gratuity. I wanted to know how much amount of gratuity I will receive from my company (a private company in India) and I would like to let you know that I have completed my 5 yrs, 7 months and 14 days with my private company. Am I suppose to receive additional amount of Rs 200,000 as gratuaty with Tax or without Tax from the company, Read more: https://www.taxguru.in/income-tax/tax-treatment-of-gratuity-under-the-income-tax-act-1961.html#comment-13375#ixzz0mwRFAn3l. sir i have opted vrs from a public sector bank and was paid gratuity to the tune of rs.3.94 lac after 30 yrs and 11 months service.pls let me know the amount of gratuity exempted under income tax act and whether additional gratuity is payable to me since i am expecting the ceiling of gratuity to be revised tfrom rs 3.50 lac to rs 10 lac too public sector employees also. Maximum amount payable under the Gratuity Act Maximum gratuity payable is Rs 10 lakhs for Government & Non Government employees. M.C.Agrawal, Read more: https://www.taxguru.in/income-tax/tax-treatment-of-gratuity-under-the-income-tax-act-1961.html/comment-page-1#comment-27513#ixzz0jEsFJYM8, whether the gratuity ceiling raised from rs. Is the GOI wants this incometax money from the retired employees only,how much this amounts in the total revenue of IT department? Thanks Sir, whether the gratuity ceiling raised from rs. b) In respect of Employees not covered Under the Payment of Gratuity Act, 1972: For non-government employees, who are not covered under this Act, the manner of calculating gratuity is different. I shld gt a grarutity of 7 lakh but company gave me 2 lakhs as gratutiy and 5 as bonus …so i m getting banged by the tax….what to do?? For non-government employees not covered under the Payment of Gratuity Act An employer can pay gratuity to his employees even if the organisation is not covered under the Act. As there is no employee employer relationship in the case of amount received by legal heir it is taxable in the head income from other sources. Forfeiture of Gratuity:- The gratuity of an employee whose service have been terminated for any Act of willful omission or negligence causing any damage or loss to or destruction of property belonging to the employer, gratuity shall be forfeited to the extent of the damage or loss caused. CONVEYANCE ALLOWANCE, please reply on my e.mail id- [email protected]. I retire on 31-03-2017 from private sector. As an employee I feel I pay more in taxes because of this structure. For such employees, the taxable amount of gratuity will be minimum of the following: a) Rs 10 lakh; or b) Actual gratuity limit; or I was retired on 31/5/10 and a payment of Rs.1198065 received on 8/8/09 from a limted company (MNC) vide cheque dated 30/7/10. 20,00,000/- (Limit increased to Rs. msedcl is a govt of Maharashtra undertaking .. and is a local authority as per the definition in ie act 2003 definitions. 3.5 lakh as gratuity. – Is gratuity taxable? 20/10 lakh applies to the aggregate of gratuity received from one or more employers in the same or different years. This site uses Akismet to reduce spam. The school refuses to pay gratuity stating private schools dont need to pay gratuity . I have retired from bank in AUG’2007 Got gratuity Rs.3.67 Paid Tax on Rs 17000/- Now in 2010 Due to salary revision I got Difference of Gratuity as Rs 1.57 IS it taxable or not please guide, Sir, Here you have mentioned that for Gratuity calculation following salary part will taken under consideration i.e. Shriniwas. should be considered. Gratuity is normally payable to the employee himself, however in the case of death of the employee it shall be paid to his nominee & nomination has been made to his heirs. QUESTION: I am a pensioner from Orissa State Government. Please follow the guidelines below: Section 5(1)(c)(4)(a) of the Income Tax Act, stipulates that any lump sum paid out of the Consolidated Fund, or any other fund or account Tax treatment of Gratuity under the Income Tax Act, 1961 Gratuity:- Gratuity’ is a retirement benefit. Can company is liable to pay gratuity on expires of an employee before is completion of 5 years of services. I have completed 14.3 yrs service and retired at age 60. When an employee receives gratuity it would be taxable under the head ‘Income from salary’. Gratuity Payment Credited To Employees Provident Fund Death Gratuities Retirement Benefits 12 14 14 DIRECTOR GENERAL'S PUBLIC RULING A Public Ruling as provided for under section 138A of the Income Tax Act 1967 is issued for the purpose of providing guidance for the public and officers of the Inland Sir I want to ask why this tax component is included here. How tax on gratuity is calculated? 2. or any maximum cap is there of no. Now, my gratuity become payable Rs 13,57,797/-due new pay revision as on 02.08.2018 Basic eligibility criteria to receive Gratuity. under taking i.e. Is Govt employee’s gratuity differs for income calculations from the employees of pvt/PSU sectors? It was also included in the contract that the company would contribute towards PF @12% of the deemed basic calculated as 60% of Salary. This includes payment based deductions such as ''Provident fund", leave encashment, gratuity etc. is gratuity exceeding 10 Lakh is exempted for income tax as per the definition of Any amount received by .. as per income tax act .. She received gratuity of 2.3 Lakh, is this gratuity taxable? I have with me various case studies. OF YEARS, whether income tax on death cum retirement gratuity payable to U.P. Since I have already raised my dissatisfaction on the amounts received and in return received a reply which is not convincing, please tell me what should be my next step if I was not paid the right amount – request the company to review it once again or go for legal action. HOW ? I think that the gratuity should be computed based on the Salary which is clearly mentioned in the contract. 2. A PSU employee retired on 31/03/2017 and his gratuity of Rs 15 lac was paind on 01/04/2017. Hi ! 17.00 lacs if the employee agrees to pay the income tax on the excess amount of Rs. Our is a R& D organisation under the administrative control of Ministry of Commerce and Industry, Govt of India. 3.5 lakhs is tax free whether the govt. Is gratuity received by LIC Agents is taxable, I am a finance executive in a project called cebpol funded by Norway and Moef and in few State PSUs wef 1-1-07. As per Board’s letter F.No. Why so disparity As per the Gratuity Payment act 1972/ 2009 I am eligible for the payment of gratuity from the organization. The concerned clause under clause 4 of Gratuity Act 1972 stands amended and the limit has been raised to 10 lakhs. All help is appreciated. I understand that Any Gratuity Payable under the Gratuity Act 1972 ( Present Limit 3.5 lakhs ) is TAXfree under the Income Tax act. pls reply as early Her gratuity amount is more than 3.5 lakh so is she eligible to claim that amount as the ceiling now is 10 lakhs? I was employee of A PSU and had served for 24 years before resigning in March 2014. But I received a further amount of Rs.four lakhs in December 2010 consequent on revision of pay. An employee can claim exemption maximum up to Rs. I have receiver Gratuity Rs 10,00,000/ on 31.08.2017 I have deposited the gratuity in a SB account,Will that be taxable for the next financial year?
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