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Your Taxes


I took gratuity amount of ₹20 lakh in financial year 2018-2019, which was exempted from income tax as per the Income Tax Act, 1961. In the next financial year, ie, 2019-2020, I again received some additional gratuity amount . Will this be exempt from income tax ? Kindly clarify.

I have been working for Dhanlaxmi Bank for 24 years in Thrissur and have been reading BusinessLine every day for the past 20 years. Please advise me on the following: While calculating tax, can any amount be deducted from total income on the encashed LTC (not on leave surrender) amount if I submit ...


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