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Querist : Anonymous

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Querist : Anonymous (Querist)
23 November 2010 whats about Gratuity exemption limit, 3.5 Lacs or 10 Lacs, under Gratuity act or otherwise
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
23 November 2010 Gratuity limit is increased to Rs.10 lakhs by the Payment of Gratuity(Amendment) Act,2010 dated 18/05/2010.
Gratuity limit for the purpose of Income tax Act,1961,section 10(10)(iii),is also increased to Rs.10 lakhs vide Notification 43/2010 dated 24/5/2010.
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
23 November 2010 The revised limit is Rs 10 Lakh
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