Gratuity: Calculation, Formula and Tax
Gratuity is paid to employees by their employer at the time of retirement/resignation or in case of death and disability. We share the formula to calculate gratuity and how it is taxed
Gratuity is paid to employees by their employer at the time of retirement/resignation or in case of death and disability. We share the formula to calculate gratuity and how it is taxed
All salaried have different type of leaves namely: Sick Leave, Casual Leave, Earned/Privilege leave, etc. If employees take lesser leaves than they are eligible for, most employers encash the left over leaves either annually or at the time of leaving the company. Of all types of leaves only earned or privilege leave is encashable. Leave
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Budget 2018 along with many changes to tax laws also introduced a new Section 80TTB. According to this Senior citizen can claim tax exemption up to Rs 50,000 on interest income from bank/ post office fixed deposit, recurring deposit or savings account. Also, if a senior citizen opts to take advantage of Section 80TTB, he
Section 80TTB: Senior Citizens can Save Tax on their Interest Income Read More »