Malik retired from Mehbooba Ltd. after rendering service for 27 years and 8 months. His 15 days salary is ₹26,000. He received ₹11,50,000 as gratuity from the employer. He is covered under the Payment of Gratuity Act, 19
CS Executive · Tax Laws and Practice · PYQS · December 2019
Malik retired from Mehbooba Ltd. after rendering service for 27 years and 8 months. His 15 days salary is ₹26,000. He received ₹11,50,000 as gratuity from the employer. He is covered under the Payment of Gratuity Act, 1972. The amount of gratuity eligible for exemption under section 10(10) would be:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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