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Search for "Gratuity Limit Up Rs 10 Lakh Income"


Income tax 2010-2011
Hi the income tax slabs have been revised in the budget. the following are the slabs: income upto rs.1.6 lakh nil income above rs.1.6 lakh and upto rs.5 lakh 10 per cent income above rs.5 lakh and upto rs.8 lakh 20 per cent income above rs.8 lakh 30 per cent now friends suppose a person draws a salary of rs. 1200000 per annum can any body work out the tax liability taking into consideration and ofcourse mentioning the concessions available under different sections. srinaren
Gratuity- post amendment- new limit, eligibility, formula, taxation and calculator
Gratuity post amendment learning gratuity new limit eligibility formula taxation and calculator the parliament passed the payment of gratuity amendment bill. this will increase the limit amount to rs.20 lakh from the existing rs.10 lakh. this is applicable for central govt employees and also private sector employees organized sectors. to know more click on the link below ning/663
Will insurance policy benefitial than gratuity scheme?
Respected sir in a metalergical company his owner wants to adopt insurance policy instead of gratuity scheme. for insurance he is going to bare 50 of premium till maturity. the agent told that from first day anything happen with workers natural or accidental death the his family will get rs. 10 lakh /20lakh. another important thing is that the maturity amount is more than 20 lakh which is taxfree while maximum gratuity limit for private sector is rs. 20 lakh only. in gratuity scheme in case of death gratuity will be as per his service only. what is your expert suggestion?
Amendment in gratuity act
The cabinet has approved an amendment to the gratuity act to raise the ceiling from rs 3.5 lakh to rs 10 lakh. every salaried person who has completed five years of government or private sector service is eligible for half a month’s salary as gratuity for every completed year of service. but the gratuity pay of those with higher salaries is now limited at rs 3.5 lakh. the proposed amendment raises this to rs 10 lakh. every employer with more than ten salaried workers is mandated to provide gratuity to the eligible employees. many companies however do not keep the gratuity liability adequately funded. that is they make provisions for future payment but do not set aside funds towards the future payment. listed companies are expected to disclose their gratuity liability.
What is current gratuity limit
Dear members i want to know what is the current gratuity limit or ceiling.is gratuity limit has been raised from 3.5 lakh to 10 lakh?
Gatuity amendment-10-business manager update
Dear friends payment of gratuity act 2010 has been enacted wherein gratuity limit has been increased to rs.10 lakh from 3.5 lakh. however date of implementation is to be notified. regds anil kaushik chief editor b138ambedkar nagaralwar301001 raj india landline;01442372022 mob;09829133699