Question
An employee receives gratuity of ₹12 lakhs on retirement. What is the maximum tax-exempt amount under the Income Tax Act?
More Taxation Related Questions
- For an individual resident in India aged below 60 years, the basic exemption limit for the Financial Year 2025-26 (Assessment Year 2026-27) is:
- Which ITR form is applicable for individuals having income from salary and house property?
- A company earns ₹15 lakh net profit before tax. It donates ₹1 lakh to PM CARES Fund and claims depreciation of ₹2 lakh. What is taxable income under Income...
- Which of the following is not an allowable deduction under Section 80C of the Income Tax Act?
- Company turnover ₹20Cr, taxable income ₹2Cr. MAT liability? (MAT rate 15%)
- Mr. X, an Indian citizen, stayed in India for 130 days during FY 2024-25. In the four preceding years, his total stay in India was 480 days. Determine his ...
- Mr. Raj, a salaried individual, claims HRA, standard deduction, and 80C deductions under the old regime. He is considering switching to the new tax regime ...
- Which section of the Income Tax Act, 1961 deals with the income from "Salaries"?
- The individuals, who have availed loans for purchase of residential property, which was sanctioned between 1st April 2019 and 31 March 2021, can avail the ...
- Which of the following forms are used for applicable for registration?
Hey! Ask a query
Please enter email id
The email must be a valid email address.
Please enter Mobile Number
Please enter valid Mobile Number
Please enter your Doubt