CBDT has enhanced the income tax exemption limit of gratuity from Rs 10 lakhs to Rs 20 lakhs.

CBDT has enhanced the income tax exemption limit of gratuity from Rs 10 lakhs to Rs 20 lakhs.

March 11, 2019 Fiscal, Industries, states 0

Dear All,

Central Board of Direct Taxes (CBDT) has issued a Notification No 16/2019 dated 8th March, 2019 to enhance the maximum exemption limit of gratuity received by an employee from Rs 10 lakh to Rs 20 lakh, in relation to the employees who retire or become incapacitated prior to such retirement or die on or after the 29th day of March, 2018 or whose employment is terminated on or after the said date.

SourceIncome Tax Department

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