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Income tax department expects taxpayers to file correct returns whther they file it in cash or online. (Photo: PTI).

Centre doubles tax-free gratuity for formal sector staff to Rs 20 lakh

The gratuity was raised considering inflation and wage increase even in the case of employees engaged in the private...

13 Sept 2017 10:29 AM IST

The success in divestments and encouraging goods and services tax collections will help government reduce pressure on the fiscal math, says a report. (Photo: PTI/Representational)

Tax free Rs 20 lakh gratuity for employees a reality soon

At present formal sector workers with five or more years of service are eligible for Rs 10 lakh tax free gratuity.

15 Jan 2018 10:58 AM IST

The privatisation of loss-making Air India has hit a roadblock at the starting line-up itself.

Air India doubles gratuity ceiling amount of employees

Around 6500 employees of the airline stand to benefit from this new announcement.

2 July 2018 11:32 AM IST

The Nirav Modi fraud-hit Punjab National Bank (PNB) led the pack with the largest amount of NPAs worth Rs 86,620 crore during 2017-18.

No case of pension, gratuity fund diversion at PNB: Jaitley

PNB has also apprised that no amount was taken back or withdrawn from the trusts' account.

4 Jan 2019 3:22 PM IST

If you are under the age of 60, heres a check list to help you plan your money decisions to create wealth, insure adequately, and save tax in 2018-19.

Income tax exemption limit on gratuity doubled to Rs 20 lakh, says...

'This would benefit those employees of PSUs and others not covered by Payment of Gratuity Act, 1972,' said Labour...

7 March 2019 6:47 PM IST

Thousands of employees who have been retired since January 1, 2016 have not been able to get the benefit of this increased gratuity.

Govt notifies law for doubling tax-free gratuity to Rs 20 lakh

Earlier, the upper ceiling on gratuity amount under the act was Rs 10 lakh.

31 March 2018 11:17 AM IST