Gratuity maximum limit
Raju Warrier (1 Points)
22 July 2020
Has the maximum limit of gratuity for those not covered under gratuity act extended to 20 lakhs in the AY 20-21?
3 Replies
Soundarya Paramaraj
(138 Points)
Replied 22 July 2020
In FY 2020-21, if an individual receives gratuity, then maximum tax-exempt gratuity will be Rs 20 lakh in his/her lifetime for non-government employees. Gratuity received due to death of an employee will remain tax-exempt in the new tax structure as well without any maximum limit,"
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 22 July 2020
@ Raju Warrier,
The limit is not extended for those employees not covered under payment of Gratuity Act.
So the maximum limit remains 10Lakhs
The limit is not extended for those employees not covered under payment of Gratuity Act.
So the maximum limit remains 10Lakhs
Shivam RC
(Student)
(23683 Points)
Replied 23 July 2020
Yes agree with Eswar Reddy Sir...
For those who are not covered under the Payment of Gratuity Act 1975, the MAXIMUM limit is still Rs. 10 lakhs.
For those who are not covered under the Payment of Gratuity Act 1975, the MAXIMUM limit is still Rs. 10 lakhs.
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