Gratuity

This query is : Resolved

CA Chintan Parikh (Querist)
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10 December 2012 Dear Sir,

Is Gratuity Received by employee of Bank Of India Taxable or Exempt ?

Whether he is covered under the meaning of government employees under income tax act for Gratuity Purpose and can Claim Fully Exemption of Gratuity received at the time of retirement of service?

@VaibhavJ

@VaibhavJ (Expert)
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10 December 2012 Hi

Bank of India is government undertaking & they are receiving gratuity in line with govt policy & it is 100% exempt.

Also as per my knowledge they wont be getting more than Rs. 10 lac gratuity, if it is so pl let me know for my information.

Thanks//Vaibhav
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CA Chintan Parikh

CA Chintan Parikh (Querist)
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11 December 2012 Thanks for Reply.

Is their any Notification or circular in this regard

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