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Gratuity Section - Tax Law Short Tricks

Gratuity Section 10(10A) ✓ Govt. Employee = 💯 Exempted OR ✓ Non Govt Employee ⤵️ (i) Employee Covered under GR* act 1972 (ii)Employee Covered under GR* act 1972 Least one of the following shall be exempt... (i) Covered under G/act ⬇️ • Actual Amt. rec. • ₹20,00,000 • 15/26 x last drawn Salary* x Completed years of service* or part thereof *Salary = Basic+DA (Totally) *6months > (complete year) (ii) Not Covered Under G/act ⬇️ • Actual Amt. rec. • ₹20,00,000 • 15/20 x last 10 months avg. Salary* x Completed years of service. *SALARY = Basis+DA+Commision % based on T.D. Buy this Tax Law Notes https://www.csaspirant.com/product-page/tax-law-handwritten-notes-direct-tax-cs-executive


#Retrenchment Compensation Exemption •Actual Amt Received • ₹5,00,000 • 15/30 x Avg. Salary* last 3months x Completed Years* --------W-E-Less------- *Salary = B/s + DA *Completed year = >6m =count full year This Note https://www.csaspirant.com/product-page/tax-law-handwritten-notes-direct-tax-cs-executive

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