CBDT increases tax free gratuity limit to Rs. 20 lakh
The CBDT has increased the maximum amount of gratuity exempt under section 10(10)(iii) from existing Rs. 10 Lakh to Rs. 20 Lakh. Earlier, the Govt. vide notification S.O. 1420 (E) dated 29.03.2018 has increased the limit of amount of gratuity payable to an employee under section 4(3) of the Payment of Gratuity Act, 1972 from Rs. 10 Lakh to Rs. 20 Lakh.