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Example:-X, an employee of A Ltd., receives ₹ 62,000 as gratuity (he is covered under the Payment of Gratuity Act, 1972). He retires on 31st January, 2015 after service of 29 years and 8 months. At the time of retirement monthly salary of X was ₹ 3,100. Is the entire amount of gratuity exempt from tax?

Dated:- 10-8-2015 - Chapter No. 03 - Salary - Gratuity - [Sec. 10(10)] In this case 30 years will be taken as completed .....

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ollowing will be exempt from tax: ₹ 53,653.85 (i.e. 1,788.46 x 30) ₹ 10,00,000 ₹ 62,000 ₹ 53,653 .....

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