Now you can get higher gratuity without paying taxes. The Government is going to increase the limit for tax-free gratuity.
Showing posts with label Gratuity Amount has raised up to Rs. 20. Show all posts
Showing posts with label Gratuity Amount has raised up to Rs. 20. Show all posts
Wednesday 1 April 2020
Saturday 11 November 2017
Now you can get higher gratuity without paying taxes. The Government is going to increase the limit for tax-free gratuity.
The union cabinet has decided to increase the tax-free gratuity limit to Rs.20 lakhs. As of now, it is Rs.10 lakhs. This decision would benefit the employees of the private sector and PSUs. The central government employees have already got this relaxation through the Seventh Pay Commission.
The decision to increase the tax-free gratuity limit is taken by the union cabinet. But the government can’t implement it immediately. As it requires the change in gratuity act.
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