Gratuity

Gratuity is a payment made by the employer in appreciation of past services of employee. It can be paid at the time of retirement or resignation or termination of employee from his employment. Income tax act provides exemption for the amount an employee receives as gratuity from his employer. After this exemption the rest will be taxable in the hand of employee under the head … [Read more...] about Gratuity – Section 10(10) of Income tax act