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<h1>Gratuity Exemption Limit Raised to Rs. 10 Lakhs u/s 10(10)(iii) of Income-tax Act for Eligible Employees.</h1> The Central Government has specified that under Section 10(10)(iii) of the Income-tax Act, 1961, the gratuity exemption limit is raised to Rs. 10 lakhs. This change, effective from May 24, 2010, applies to employees who retire, become incapacitated before retirement, die, or have their employment terminated on or after this date. This notification supersedes the previous notification from January 20, 1999, and reflects the maximum gratuity amount payable to government employees.