Dear Mr. PK Jain,
I fully agree with your explanation mentioned above.
But :
If employee receives gratuity for less than 5 yrs, It is not as per Gratuity Act.
If Gratuity Act applies to the Establishment, and even gratuity is paid, which is not due, means excess amount received which is Other than Gratuity and is fully Taxable.
Your opinion please.
Thanks,
Vidyadhar Bhat
From India, Pune
73I fully agree with your explanation mentioned above.
But :
If employee receives gratuity for less than 5 yrs, It is not as per Gratuity Act.
If Gratuity Act applies to the Establishment, and even gratuity is paid, which is not due, means excess amount received which is Other than Gratuity and is fully Taxable.
Your opinion please.
Thanks,
Vidyadhar Bhat
From India, Pune
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf
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