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Income tax exemption limit on gratuity doubled to Rs 20 lakh

The Labour ministry on Thursday informed that the income tax exemption limit on gratuity u/s 10(10)(iii) has been doubled to Rs 20 lakh from the existing Rs 10 lakh. The move will benefit employees of public sector undertakings (PSUs) and other employees not covered by the Payment of Gratuity Act, 1972. 


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