HI everyone
Please tell me about the taxability of Ex-gratia in the hands of receipient?
Thanks
1 Replies
Renuka Prasad.R
(Article Student)
(40 Points)
Replied 15 October 2010
Gratuitous payments to widow/legal heirs of employee - A lump sum payment made gratuitously or by way of compensation or otherwise to the widow or other legal heirs of an employee, who dies while still in active service, is not taxable as income under the Income-tax Act, 1961—Circular : No. 573, dated 21-8-1990.
Recent Topics
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
- Claim if ITC on stocks 19-2020 conversion from com
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
Related Threads
CAclubindia
