I-T exemption for gratuity hiked

NEW DELHI, JUNE 11 The Government today raised the Income Tax exemption limit on gratuity from Rs 3.5 lakh to Rs 10 lakh, with effect from May 24. "Employees who retire, become incapacitated, terminated, or die on or after May 24, 2010, will get I-T exemption for gratuity up to Rs 10 lakh", a Finance Ministry official said here.

By Team Herald

Published: 12 June 2010

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