Gratuity is deducted monthly by employer- dedn u/s. 80c ?
This query is : Resolved
04 March 2017
Hello everyone,
one of my clients salary slip is as under
basisc - 32500
HRA - 12500
Gratuity-1563/-
total - 46563
less: tds - 3000
less: gratuity-1563
net salary-42000
My question
can we claim deduction of gratuity under section 80C similar to EPF ??
one of my clients salary slip is as under
basisc - 32500
HRA - 12500
Gratuity-1563/-
total - 46563
less: tds - 3000
less: gratuity-1563
net salary-42000
My question
can we claim deduction of gratuity under section 80C similar to EPF ??
04 March 2017
No you can not claim gratuity deduction under section 80C of the Income Tax Act, 1961.
Exemption is allowed at the time of superannuation, retirement or resignation, death or disablement due to accident or disease-with some restriction.
Exemption is allowed at the time of superannuation, retirement or resignation, death or disablement due to accident or disease-with some restriction.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
