Tax Treatment of Gratuity as per Income Tax Act,1961 is covered U/S 10(10) of the Act. In case of retirement, resignation or termination, you have to consider Income Tax liability on propose receipt of Gratuity. If Gratuity is received by employee himself, it will be taxable under head salary while if it is received by legal heir on death of employee, It will be taxable under “Income from other sources’ to the extent it is not chargeable to tax as per below mentioned provision
Showing posts with label Income Tax Section 10(10). Show all posts
Showing posts with label Income Tax Section 10(10). Show all posts
Tuesday, 12 September 2017
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