Gratuity & LTC Received at the time of Retirement – Exemption Limits & Relevant Section Applicable section Exemption of gratuity is governed by Section 10(10) of the Income Tax Act, 1961. Within Section 10(10), there are sub-clauses: • 10(10)(i): Gratuity for government employees (death-cum-retirement, etc.) • 10(10)(ii): Gratuity under the Payment of Gratuity Act, 1972 (for…
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