Mr. Vijay employed in ABC Ltd opted for voluntary retirement and received ₹ 12 lakhs by way of gratuity. The Payment of Gratuity Act, 1972 is applicable in his case. The monetary limit for exemption under Section 10(10)
CS Executive · Tax Laws and Practice · PYQS · December 2017
Mr. Vijay employed in ABC Ltd opted for voluntary retirement and received ₹ 12 lakhs by way of gratuity. The Payment of Gratuity Act, 1972 is applicable in his case. The monetary limit for exemption under Section 10(10) is :
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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