IT Exemption for Gratuity upto 20 Lakh – Gazette Notification Gazzette Notification: Exemption u/s 10 of Income Tax – Rs. 20 Lakh for Gratuity w.e.f. 29.03.2018 MINISTRY OF FINANCE (Department of Revenue (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th March, 2019 (Income-tax) S.O. 1213(E).—In exercise of the powers conferred by sub-clause (iii) … Read more
Income Tax on Gratuity – exemption enhanced Up to 20 lakhs Income tax exemption for gratuity increased from Rs.10 lakhs to 20 lakhs w.e.f. 29.3.2018 Income tax exemption for gratuity enhanced Up to Rs. 20 lakhs Ministry of Finance has enhanced the income tax exemption for gratuity under section 10 (10) (iii) of the Income … Read more
Gratuity ceiling raised to 20 Lakhs w.e.f. 29.3.2018 Payment of Gratuity (Amendment) Act, 2018 brought in force on 29th March, 2018 Decision:The Payment of Gratuity (Amendment) Bill, 2018 has been passed by Lok Sabha on 15th March, 2018 and by the Rajya Sabha on 22nd March, 2018, has been brought in force on 29th March, … Read more
TN Retirement Gratuity – Retirement and Death Gratuity from 1.1.2016 GRATUITY RETIREMENT / DEATH GRATUITY : The rates for payment of death gratuity shall be revised with effect from 1-1-2016 as follows:- The maximum limit of Retirement Gratuity and Death Gratuity shall be enhanced from the existing Rs.10 lakh to Rs.20 lakh with effect from … Read more
Payment of Gratuity (Amendment) Bill, 2017 : Increase maximum limit of gratuity in Private Sector “Amendment will increase the maximum limit of gratuity of employees, in the private sector and in Public Sector Undertakings/ Autonomous Organizations…” Cabinet approves introduction of the Payment of Gratuity (Amendment) Bill, 2017 in the Parliament The Union Cabinet chaired by … Read more