Income tax return (ITR) filing: These employees can pay less tax now
Income tax return (ITR) filing: Employees from the private sector as well as of PSUs have received a big gift of money from the PM Narendra Modi led NDA government. Tax free gratuity limit has been hiked. In fact it has been doubled.
On Tuesday, FM Arun Jaitley 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. The government in Budget 2019-20 also announced hiking of tax free gratuity to Rs 20 lakh for employees having service of more than five years. Image source: PTI