Income Tax : This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax...
Income Tax : The Income Tax Department has explained the tax treatment of gratuity, pension, leave encashment, provident funds, NPS, and retire...
Corporate Law : The Social Security Code, 2020 extends gratuity benefits to fixed-term and gig workers, standardizes wage definitions, and mandate...
Income Tax : Explains how gratuity exemptions differ for government, private, and Gratuity Act–covered employees. Key takeaway: exemption is ...
Income Tax : This guide breaks down the complete taxation of salary income in India—covering allowances, perquisites, retirement benefits, an...
Corporate Law : Whether Government is considering to increase the Gratuity payment from 15 days’ salary for each completed year to 30 days’ sa...
Corporate Law : The Government has issued Notification the same day wherein gratuity limit has been increased from Rs.10 lakhs to Rs.20 lakhs un...
Corporate Law : Decision:The Payment of Gratuity (Amendment) Bill, 2018 has been passed by Lok Sabha on 15th March, 2018 and by the Rajya Sabha on...
Corporate Law : The Payment of Gratuity (Amendment) Bill, 2018 has been passed by parliament today. The bill ensures harmony amongst employees in ...
Corporate Law : Clause 3 of the Bill seeks to amend the provision relating to calculation of continuous service for the purpose of gratuity in cas...
Income Tax : The Kolkata ITAT deleted an addition against an employees gratuity fund after finding that gratuity payments were higher than the ...
Corporate Law : Court held that amended gratuity rules effective from July 2013 governed all employees uniformly and prevailed over inconsistent p...
Income Tax : The Tribunal addressed disallowance arising from mismatch between ITR and tax audit report. It held that inadvertent reporting err...
Income Tax : ITAT Mumbai dismissed revenue's appeal against Thirumalai Chemicals, allowing gratuity, bad debts, and other expenses while also a...
Corporate Law : SC rules criminal conviction not needed for gratuity forfeiture if misconduct involves moral turpitude. Upholds forfeiture in frau...
Corporate Law : The government clarified that gratuity for civil service after re-employment will not be restricted by gratuity already received f...
Corporate Law : DoPPW clarifies that gratuity under CCS (Payment of Gratuity under NPS) Rules, 2021 is payable only upon retirement/absorption, no...
Corporate Law : Government of India enhances maximum limit of gratuity for Central Government employees to Rs 25 Lakh, implementing Seventh CPC re...
Corporate Law : Explore the Karnataka Compulsory Gratuity Insurance Rules 2024 introduced by the Government of Karnataka. Learn about coverage, co...
Income Tax : Govt increases Gratuity exemption limit u/s Section 10(10)(iii) to ₹ 20 lakhs from existing Rs. 10 Lakh vide Notification No. ...
This guide explains the tax treatment of salary, allowances, perquisites, retirement benefits, and deductions under the Income-tax Act. It also covers HRA, provident fund, gratuity, pension, Form 12BB, Form 16, and relief under Section 89.
The Income Tax Department has explained the tax treatment of gratuity, pension, leave encashment, provident funds, NPS, and retirement compensation under the amended law. The guide clarifies exemption limits, deduction eligibility, and taxable components of retirement benefits.
The Kolkata ITAT deleted an addition against an employees gratuity fund after finding that gratuity payments were higher than the interest income earned during the year. The Tribunal held that excess expenditure over income meant no taxable addition could survive.
Court held that amended gratuity rules effective from July 2013 governed all employees uniformly and prevailed over inconsistent provisions in the HR manual. The appeal seeking enhanced gratuity was dismissed.
The Tribunal addressed disallowance arising from mismatch between ITR and tax audit report. It held that inadvertent reporting errors require verification, not outright denial of deduction.
The government clarified that gratuity for civil service after re-employment will not be restricted by gratuity already received for military service. The key takeaway is full eligibility for civil gratuity under NPS rules.
The Social Security Code, 2020 extends gratuity benefits to fixed-term and gig workers, standardizes wage definitions, and mandates timely payments, enhancing employee financial security.
Explains how gratuity exemptions differ for government, private, and Gratuity Act–covered employees. Key takeaway: exemption is capped at ₹20 lakh, and excess becomes taxable.
DoPPW clarifies that gratuity under CCS (Payment of Gratuity under NPS) Rules, 2021 is payable only upon retirement/absorption, not standard resignation, which forfeits past service.
This guide breaks down the complete taxation of salary income in India—covering allowances, perquisites, retirement benefits, and exemptions available to salaried taxpayers.
