Gratuity Limit and taxation on Perks and LWW

This query is : Resolved 

12 April 2023 Dear Friends, Seek your guidance on the below query: - One employee joined our organization in 2003 and left on 31st Mar 2023 (at the age of 72) his basic monthly salary is 3,33,215/- My question are: - 1. How many year of services to be considered for gratuity calculation (Joining till retirement age i.e. 10 Yrs or Joining till actual left date 20 yrs). Also is there any upper limit. 2. Leave Encashment - Same question as above. 2ndly can we show this in FY 23-24 instead of 22-23 (on the request of the employee) 3. we are providing the car as perk (the wdv of which is 20 Lacs) what will be the taxation on the same and can we also show it in 23-24.


14 April 2023 1 Till retirement age of 60 to be considered. Limit for gratuity is 20 lacs.
2 yes.
3 No.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries