CBDT Press Release on Tax exemption for gratuity - ALLCGNEWS

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27 June 2010

Home INCOME TAX CBDT Press Release on Tax exemption for gratuity

CBDT Press Release on Tax exemption for gratuity

No.402/92/2006-MC (30 of 2010)
Government of India / Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

***
New Delhi the 11thJune 2010
PRESS RELEASE

The Central Board of Direct  Taxes has approved notification of ten lakh rupees as the
maximum amount of gratuity entitled to exemption under  sub-clause (iii) of clause (10) of section 10 of the Income Tax  Act 1961.

The notification will be applicable to employees who retire, or  become incapacitated before retirement, or expire, or whose  services are terminated, on or after the 24th May 2010.
[Notification No.43/2010;  F.No.200/33/2009-ITA.I]
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