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India-Labour & Employment Alert (March 2019)

The Ministry of Finance, Department of Revenue via notification dated 8th March 2019, has increased the limit of tax-free gratuity to INR 20 lakh under Section 10 (10) (iii) of Income Tax Act, 1961 in relation to employees who retire or become incapacitated prior to such retirement or pass away after the 29th day of March 2018 or whose employment is terminated on or after the said date. This will benefit employees who are not covered by the Payment of Gratuity Act, 1972.

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