Contact us   Feedback   Subscription   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

Example -X an employee of A Ltd. receives ₹ 62000 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 ₹ 3100. 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 year of service. 15 days salary = 3,100 x 15/26 = 1,788.46 Out of ₹ 62000 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version