IT Exemption on Gratuity - 20 lakhs w.e.f. 29.3.2018 Income tax exemption for gratuity increased from Rs.10 lakhs to 20 lakhs w.e.f. 29.3.2018 Ministry of Finance has enhanced the income tax exemption for gratuity under section 10 (10) (iii) of the Income Tax Act, 1961 to Rs. 20 lakhs. Shri Santosh Kumar Gangwar, Minister of State for Labour and Employment has expressed hope … [Read more...] about Income tax exemption for gratuity increased from Rs.10 lakhs to 20 lakhs w.e.f. 29.3.2018
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Gratuity Ceiling
Gratuity Ceiling Amendment – Gratuity Payment, Date and Maternity Leave
Gratuity Ceiling Amendment - Gratuity Payment, Date and Maternity Leave Gratuity Ceiling Amendment Notifications issued by Government of India regarding Upper limit of Gratuity Payment, Date on which come into force and Maximum Period of Maternity Leave… MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 29th March, 2018 S.O. 1419(E).— In exercise of the powers … [Read more...] about Gratuity Ceiling Amendment – Gratuity Payment, Date and Maternity Leave
7th Pay Commission Report on Death Gratuity
7th Pay Commission Report on Death Gratuity The Commission has received representations pointing to a need for rationalization of current slabs for death gratuity, especially for the slab of 5 to 20 years of qualifying service in which family pensioners are stated to be placed at a disadvantageous position. Analysis and Recommendations : As per Rule 50 of Pension Rules, … [Read more...] about 7th Pay Commission Report on Death Gratuity
7th Pay Commission’s Recommendations on Gratuity
7th CPC recommends for raising Gratuity from the existing Rs.10 lakh to Rs.20 lakh from 01.01.2016. 7th Pay Commission further proposes for DA indexed Gratuity viz., increase by 25 percent whenever DA rises by 50 percent. Enhancement in the Gratuity Ceiling and its Indexation A number of representations have been received by the Commission stating that there is a need to … [Read more...] about 7th Pay Commission’s Recommendations on Gratuity
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