Govt cleared legislation to double tax-free gratuity for formal sector
employees to Rs 20 Lakh
Cabinet
approves introduction of the Payment of Gratuity (Amendment) Bill, 2017 in the
Parliament
The
government cleared a legislation that seeks to double tax-free gratuity for
formal sector employees to Rs 20 lakh.
The
amendment will put the maximum limit of gratuity of employees of the private
sector as well as public undertakings and autonomous organisations under the
government who are not covered under Central Civil Services (Pension) Rules, at
par with central government employees, which is Rs 20 lakh.
Press Information Bureau Link | http://pib.nic.in/newsite/PrintRelease.aspx?relid=170696
Regards
Pralhad Jadhav
Senior Manager @ Knowledge
Repository
Khaitan & Co
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