Bimal is employed in a factory at a salary of ₹ 2,400 per month. He also gets a dearness allowance @ ₹ 600 per month and a bonus of @ ₹ 200 per month. He retired on 31 st December 2020 and received ₹ 75,000 as gratuity under the Payment of Gratuity Act, 1972 after serving 31 years and 4 months in that factory. The amount of gratuity exempt under the Income-tax Act, 1961 will be

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Question:Bimal is employed in a factory at a salary of ₹ 2,400 per month. He also gets a dearness allowance @ ₹ 600 per month and a bonus of @ ₹ 200 per month. He retired on 31 st December 2020 and received ₹ 75,000 as gratuity under the Payment of Gratuity Act, 1972 after serving 31 years and 4 months in that factory. The amount of gratuity exempt under the Income-tax Act, 1961 will be

1.₹ 75,000

2. ₹ 53,654

3.₹ 21,346

4. ₹ 20,00,000

Posted by R4R Team
  1. Bimal is employed in a factory at a salary of ₹ 2,400 per month. He also gets a dearness allowance @ ₹ 600 per month and a bonus of @ ₹ 200 per month. He retired on 31 st December 2020 and received ₹ 75,000 as gratuity under the Payment of Gratuity Act, 1972 after serving 31 years and 4 months in that factory. The amount of gratuity exempt under the Income-tax Act, 1961 will be
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