THE CBDT APPROVED TAX EXEMTION FOR GRATUITY

Central Board of Direct Taxes

No.402/92/2006-MC (30 of 2010) 

Government of India / Ministry of Finance 

Department of Revenue

The Central Board of Direct Taxes

New Delhi the 11thJune 2010





PRESS RELEASE



         The Central Board of Direct Taxes has approved notification of ten lakh rupees as the maximum amount of gratuity entitled to exemption under sub-clause (iii) of clause (10) of section 10 of the Income Tax Act 1961.





          The notification will be applicable to employees who retire, or become incapacitated before retirement, or expire, or whose services are terminated, on or after the 24th May 2010.





[Notification No.43/2010; F.No.200/33/2009-ITA.I