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No tax on Rs 20 lakh gratuity for private employees

No tax on Rs 20 lakh gratuity for private employees

Wednesday, March 1, 2017, 10:09 AM

Private sector employees will now be able to withdraw up to Rs.20 lakh in tax-free gratuity. Till now the tax-free limit was Rs.10 lakh for government employees.The limit of Rs.20 lakh is applicable throughout the lifetime of an employee.An employee who has completed five years of continuous service in an organization is eligible for gratuity.This move is beneficial for the private sector employees.
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