Gratuity

This query is : Resolved

CA Satish Dindokar (Querist)
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28 January 2014 Gratuity is payable after 5 years.

But if company has its own policy to pay gratuity on superannuation / retirement / resigned after completion of 3 years.

Whether exemption form Gratuity is available for income tax purpose, if paid on completion of 3 years.

@VaibhavJ

@VaibhavJ (Expert)
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28 January 2014 Hi

In that case there is no exemption available under Income tax, since as per IT it requires completion of 5 years to claim exemption

Thx

CA Satish Dindokar

CA Satish Dindokar (Querist)
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28 January 2014 Thanks vaibhav.. where it can be confirmed any sec / clause etc under income tax.

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@VaibhavJ

@VaibhavJ (Expert)
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28 January 2014 Pl refer s/10(10) of Income Tax Act

Thx