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exemption of gratuity paid/payable during fy2010-11

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(Querist)
01 May 2010 the upper limit of gratuity payable was enhaced from the present level of Rs.350000/ to Rs.1000000/.as per payment of gratuity act.now what will be exemption limit of gratuity under income tax act (as amended)
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
01 May 2010 Since income tax act is not ammended the limit under income tax continues to be Rs.350000
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ca dipti sharma

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ca dipti sharma (Expert)
02 May 2010 The limit of 1000000/- has not been approved yet, so current limit of rs 350000/- will continues.
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