Exemption limit of gratuity ay 2010-11 and 2011-12

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swapan k yaymukhopadh (Querist)
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04 January 2017 retired on 31.01.2010. gratuity amount Rs 10,00,000/ received on Aug.'10. AY 11-12 ready reckon-er says gratuity should be treated on receipt basis since it was paid after cut-off date i.e.24.05.2010, when exemption limit enhanced from 3,50,000/ to 100,000/. also during scrutiny of the AY 10-11 gratuity amount was not considered as it was not paid during AY10-11. pl .give tax-ability of the gratuity amount in this case.

ALKESH T MEHTA

ALKESH T MEHTA (Expert)
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05 January 2017 1/2 moth salary of completed years of service or Rs.1000000/-,whichever is less is exempted for A.Y.2011-12

swapan k yaymukhopadh

swapan k yaymukhopadh (Querist)
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06 January 2017 Is the reply to the quarry "1/2 month salary of completed years of service or Rs.1000000/-whichever is less is exempted for AY2011-12" will hold good for an employee who retired on Jan.2010 i.e. during AY 2010-11 but received gratuity during AY 2011-12? what is the basis of arriving this conclusion e. g. under which section of IT rules, act, statute? or is there any case law in this subject? pl help giving details.

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