TAX EXEMPTION FOR GRATUITY - ALLCGNEWS

Central Government Employment News

Post Top Ad

04 July 2010

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 11th June 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]


CLICK HERE FOR ORIGINAL COPY

No comments:

Post a Comment

Feel free to drop your comments and suggestions

Disclaimer

The contents and information given in this blog are purely informative in nature and should not under any circumstances be taken as authority. Allcgnews blog may contain typographical errors in its contents. All efforts had been made to ensure accuracy of the content on this blog. The same should not be construed as a statement of law or used for any legal purposes. ALLCGNEWS accepts no responsibility in relation to the accuracy, completeness or otherwise, of the contents. Users are advised to verify/check any information with the relevant departments and to obtain any appropriate professional advice before acting on the information provided in the blog. We cannot guarantee the availability linked pages at all times.

Post Top Ad