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Example -An employee of X Ltd. retires on 10th March 2015 after service of 26 years and receives ₹ 650000 as gratuity. X Ltd. is not covered by the Payment of Gratuity Act 1972). If Salary drawn by him during 1st May 2014 and 28th February 2015 is as follows 1st May 2014 to 31th December 2014 Rs. 26000 p.m. 1st January 2015 to 28th February 2015 Rs. 26500 p.m. Besides he receives ₹ 400 p.m. as dearness allowance (forming part of salary for the computation of retirement benefits). He is also entitled to 6 commission on sales achieved by him (during 1st May 2014 and 28th February 2015 turnover achieved by the employee is ₹ 2577860). Is the entire amount of gratuity exempt from tax?

Example:-An employee of X Ltd. retires on 10th March, 2015 after service of 26 years and receives ₹ 6,50,000 as gratuity. X Ltd. is not covered by the Payment of Gratuity Act, 1972). If Salary drawn by him during 1st May 2014 and 28th February 2015 is as follows: 1st May 2014 to 31th December 2014 Rs. 26,000 p.m. 1st January 2015 to 28th February 2015 Rs. 26,500 p.m. Besides, he receives ₹ 400 p.m. as dearness allowance (forming part of salary for the computation of retirement benefi .....

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