Dear Seniors, if an employee, at the time of separation, receives gratuity which is tax-free as per the IT Act provision, and then joins another organization and becomes eligible for gratuity, is this gratuity tax-free up to the upper limit of the gratuity amount, or is the gratuity amount tax-free only once?
Thanks in anticipation.
From India, Pune
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470Thanks in anticipation.
From India, Pune
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Tax Exemption:
• 15 days' salary (7 days' in the case of employees of a seasonal establishment) based on the salary last drawn for each year of service or part thereof. (15 days' salary * length of service).
• Rs. 10,00,000/-
• Gratuity actually received.
Whichever is lower.
From India, Kota
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• 15 days' salary (7 days' in the case of employees of a seasonal establishment) based on the salary last drawn for each year of service or part thereof. (15 days' salary * length of service).
• Rs. 10,00,000/-
• Gratuity actually received.
Whichever is lower.
From India, Kota
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf
Gratuity Act-Teachers-Ma dhya Pradesh.docx