Corporate Law : Explore the complexities of including allowances and upper caps in gratuity regulations. Learn from legal precedents and understan...
Income Tax : Understand the nuances of Gratuity - eligibility, exemptions, tax implications for employers & employees, and recent regulatory ch...
Corporate Law : Understand the implications of Karnataka's new Gratuity Insurance Rules 2024 on employers. Learn about registration, exemptions, t...
Corporate Law : Explore the Union Bank Vs CG Ajay Babu case (2018) on gratuity forfeiture. Detailed analysis on conditions, legal aspects, and jud...
Corporate Law : Understand Karnataka's new Compulsory Gratuity Insurance Rules 2024. Learn compliance steps, key observations, and expert recommen...
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 : Analysis of ITAT Pune's criticism of the Assessing Officer's hasty penalty imposition at a 200% rate without proper application of...
Income Tax : Twinings Pvt. Ltd. vs. DCIT: ITAT Kolkata allows gratuity payment as salary expense u/s 37(1) of IT Act, rejecting disallowance u/...
Income Tax : TAT) Delhi in case of Chandan Lal Goswami vs. ITO sheds light on the eligibility of employees holding civil posts under a State fo...
Income Tax : State Government Undertaking may be considered as a State instrumentality within the definition of article 12 of Constitution of I...
Corporate Law : Patna High Court held that petitioner is duly entitled for at least 5% Simple interest on delayed payment of pension and gratuity....
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. ...
Corporate Law : (1) This Act may be called the Payment of Gratuity (Amendment) Act, 2018. (2) It shall come into force on such date as the Central...
Corporate Law : Central Government hereby specifies for the purposes of the said clause that the total period of maternity leave in the case of a ...
Shivagopal Vs State of U.P (Allahabad High Court) (i) A government employee is not entitled to death cum retiral gratuity unless the conclusion of the departmental proceedings or the enquiry by the Administrative Tribunal or judicial proceedings which includes both civil and criminal. (ii) The law as laid down in Jai Prakash (Supra) is the […]
‘Gratuity’ in simple term is a reward given by the employer to his employee at the time of his retirement / resignation / termination / death. Present article contains the answer to the basic gratuity related questions like what is the eligibility criteria of gratuity, what is the gratuity calculation formula and what is the […]
Now the CBDT vide Notification No. 16/2019/F. No. 200/8/2018-ITA-I dated 8th March, 2019 has specified twenty lakh rupees as the limit for the purposes of Section 10(10)(iii) of the Income Tax Act, 1961 in relation to the employees who retire or become incapacitated prior to such retirement or die on or after the 29th day of March, 2018 or whose employment is terminated on or after the said date.
What is Gratuity? Gratuity is a lump sum that a company pays when an employee leaves an organization and is one of the many retirement benefits offered by a company to an employee. In India, gratuity rules and requirements are set out under the Payment of Gratuity Act, 1972. An employer may also choose to […]
मोहन एक अक्टूबर, 2018 को रिटायर हुए हैं. उनकी ग्रेच्युटी की रकम 20 लाख रुपये से ज्यादा है. लेकिन, संस्थान ने बताया है कि उन्हें केवल 10 लाख रुपये तक की ग्रेच्युटी पर टैक्स से छूट मिलेगी. क्या यह सही है? Tax Guruji मोहन के सवाल का जवाब दे रहे हैं. वह कहते हैं कि […]
Govt increases Gratuity exemption limit u/s Section 10(10)(iii) to ₹ 20 lakhs from existing Rs. 10 Lakh vide Notification No. 16/2019 dated 8th March, 2019.
In the light of the amendment made in the definition of the word ’employee’ as defined in Section 2(e) of the Act by Amending Act No. 47 of 2009 with retrospective effect from 03.04.1997, the benefit of the Payment of Gratuity Act was also extended to the teachers from 03.04.1997.
Bhadkamkar A V Date: 15-02-2019 Gratuity Act Amendment – Grievance of majority employees. The maximum gratuity payable under The Payment of Gratuity Act and exempted under The Income Tax Act is raised from Rs. 10.00 lacs to Rs.20 lacs from 29-03-2018. Apparently on this decision all employees will rejoice. But as it happens always, the employees drawing fat salaries will only get […]
Disallowance under section 43B could not be done in respect of provision for gratuity made for the benefit of the employees for the reason that no actual payment was made.
Gratuity is a lumpsum amount paid by an employer to its employees at the time of their retirement, superannuation or death. It is a way by which an employer expresses its thankfulness to its employees for remaining in continuous service.
