How do you calculate GRATUITY and how much its exempted
under taxation?
Answer / r.chandrasekaran
Gratuity is calculated as 15 day's salary (7 days in the case of employees of seasonal establishments)based on the salary last drawn for every completed year of service or part thereof in excess of 6 months.
Gratuity is taxable u/s.10(10) of I.T.Act, 1961 to the extent of Rs.3,50,000/- or gratuity actually received, whichever is less.
Is This Answer Correct ? | 4 Yes | 0 No |
what is the relationship between cost accounting financial accounting and managerial accounting?
how to pass the journal entry for tds dedcted on commission receivable
what are the extraordinary items?
What is a bank account balance?
treatment of reserve fund in trail balance whether debit or credit.
What is the accrued interest & how the entry will be passed for the same
what do you mean by margin of safety
what is meaning off PLA IN EXCISE PART.
Why the provision is considered as expense and reserve is considered as liability even if they both are allocated as precautionary for specific and general purpose? pls Explain.
Hi Everybody, Can anybody tell me the journal entry for below question, Charged interest on Capital Rs.1,500.00 Thanks,
Why do we transfer all indirect exp. in P&L A/c by journal Entries in Tally.
Wat entry ill come after paying the Cen -Excise Tax Vat Tax and Service Tax in the same time