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of <h1>Gratuity Exemption Limit Raised to Rs. 20 Lakh u/s 10(10)(iii) of Income-tax Act for Eligible Employees.</h1> The Central Board of Direct Taxes, under the Ministry of Finance, has issued Notification No. 16/2019, dated March 8, 2019, which raises the gratuity exemption limit under Section 10(10)(iii) of the Income-tax Act, 1961, to twenty lakh rupees. This applies to employees who retire, become incapacitated, die, or have their employment terminated on or after March 29, 2018. This notification supersedes the previous notification dated June 11, 2010, except for actions already completed before the supersession.
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