Tax-free gratuity limit doubled to Rs 20 lakh; PSU, private sector employees to be benefitted
Union Finance Minister Arun Jaitley on Tuesday said that doubling of tax-free gratuity limit to Rs 20 lakh from Rs 10 lakh will be beneficial for public and private sector employees.
Parliament last year passed Payment of Gratuity (Amendment) Bill, 2018, enabling the government to change the existing Rs 10 lakh tax free gratuity limit to Rs 20 lakh. Reuters