what is the maximum limit of Gratuity amount and on that can any income tax get attracted as working in PSUs - CiteHR
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The period of service in a PSU is 38 years. Is there any maximum limit on Gratuity and is it taxable?
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Tax free limit of Gratuity is presently as follows;
"Income Tax Exemption for Gratuity under Section 10(10)(iii) of the Income Tax Act has been enhanced to Rs 20 lakh.
Beyond 20 lakhs amount will be taxable.
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