one of my client received gratuity from fomer employers in the year 2013-14 rs.400000/-. he resigned from the job in 2013 and started his own business. He did not retire but he resigned.
whether this is taxable or exempt ?
CA Abhishek Singh (practice) (2106 Points)
19 July 2014one of my client received gratuity from fomer employers in the year 2013-14 rs.400000/-. he resigned from the job in 2013 and started his own business. He did not retire but he resigned.
whether this is taxable or exempt ?
CA R SEETHARAMAN
(CA Practice )
(145997 Points)
Replied 19 July 2014
Even if you resign gratuity is exempted.
Least of the following is exempted:-
a) Actual gratuity received
b) 15 days Basic and DA for each completed year of service.
c) Rs 10 lakh