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Gratuity is taxable or exempted

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(Querist)
17 June 2016 ON COMPLETITION OF 6 YERS OF SERVICE A PERSON RESIGNED FROM SERVICE AND HE RECEIVE GRATUITY RS.85000 WEATHER IT IS TAXABLE OR EXEMPTED?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
17 June 2016 It is exempted provided the amount(quantum) is paid as per the provisions of Gratuity Act.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
17 June 2016 Gratuity received is exempt from tax as per Section 10(10) of the Income Tax Act and we will see how exemption is calculated. Rules relating to Gratuity which are applicable to an Employer are set out in Payment of Gratuity Act 1972.
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