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Section1010 Exemption on Gratuity Income Tax Act 1961 Akash Kumar Chauhan
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Section 10(10) Exemption on Gratuity • Gratuity is retirement benifit which is voluntary payment. • Income tax act provide some exemption on gratuity for some cases. • If gratuity recived during tha service then it is fully taxable whether it is withdrawal by government or non government employees. • if gratuity recived after retirement or death then there will be occur two case- • 1. Recived to government employees - then it is fully exempt. • 2. Recived to non government employees - the exemption is calculated in two ways- • • 1. Coverd under gratuity act 1972 • 2. Not coverd under gratuity act 1972 • if coverd then least of the following will exempt • 1. Gratuity Recived • 2. ₹2000000 • 3. 15/26 × last drawn salary × completed year of service in excess of 6 month. • salary means basic + Dearness Allowance. • • if coverd then least of the following will exempt • 1. Gratuity Recived • 2. ₹2000000 • 3. 15/30 × average of 10 month of salary × completed year of service. • salary means basic + Dearness Allowance(which are forming the part of retirement benifit) + percentage base commission. • • • #incometax • #gratuity • #exambell • • how to calculate exemption on gratuity, • exemption on gratuity, • gratuity exemption in income tax, • gratuity in income under the head salary, • section 10(10) of income tax act, • income tax act 1961, • ca income tax, • cma income tax act, • ca intermediate income tax, • cma income tax, • bcom income tax act, • llb income tax, • llb direct tax, • llb final year income tax, • • • . • . • . • . • . • Follow me on Instagram for Notes • @akashcommerceacademy • Follow my personal Instagram account • @chauhan_photograp_y • Follow me on Facebook • / akashcommerceacademy • . • . • For written notes join me on telegram link is given below • Class XI • https://t.me/akashcommerceacademyxi • Class XII • https://t.me/akashcommerceacademyxii • CMA Intermediate • https://t.me/akashcmaintermediate • . • . • . • . • . • Computer Software Related Query Subscribe my another YouTube channel • CAD GURU • / cadguruhartronbhiwani • for business query contact me on • [email protected]
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