gratuity & half pay leave

[rajul begani]

SIr, 

I would Like to know the tax liability on retirement in the following situations

A) covered under Payment of gratuity act

B) not covered under above

if Basic is Rs.28484, D.A. is Rs.12248.

Years of Service 30 years 264 days.

Gratuity .  Rs.745709

EL Encashment  Rs. 115407(85 days)

HPL Encashmnet Rs.162928 (240 Days)

CPF 486908.45

Pls Advice me?

 

 

 

[DR.MARIAPPAN GOVINDARAJAN]

Whether you have got clarified in this issue? If not please inform.

AI Summary

Gratuity tax treatment: inquiry on taxability of gratuity, leave encashments and provident fund at retirement. Tax inquiry on the tax treatment of retirement receipts, contrasting situations where the employee is covered under the Payment of Gratuity Act and where not covered. The query requests clarification on tax liability for gratuity, earned leave encashment, half-pay leave encashment and provident fund receipts at retirement, supported by stated salary components, years of service and specific amounts for gratuity, leave encashments and provident fund balance.