Tax treatment of past service gratuity
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2013
Hi, there
My question is what would be the tax treatment and provision for yer's contribution as sixth year instalment of single premium towards past service gratuity liability.
As far as I know for income tax purpose initial contribution as past service gratuity can be made either in lumpsum or in five instalment not more than that.
Thanks.
My question is what would be the tax treatment and provision for yer's contribution as sixth year instalment of single premium towards past service gratuity liability.
As far as I know for income tax purpose initial contribution as past service gratuity can be made either in lumpsum or in five instalment not more than that.
Thanks.
31 August 2013
Gratuity is exempted as and when received as per the number of years service so wait till it is received on your retirement
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 August 2013
thanks for reply, but my ques. is from employer point of view? not concern with employee.
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