IT Exemption on Gratuity - 20 lakhs w.e.f. 29.3.2018 Income tax exemption for gratuity increased from Rs.10 lakhs to 20 lakhs w.e.f. 29.3.2018 Ministry of Finance has enhanced the income tax exemption for gratuity under section 10 (10) (iii) of the Income Tax Act, 1961 to Rs. 20 lakhs. Shri Santosh Kumar Gangwar, Minister of State for Labour and Employment has expressed hope … [Read more...] about Income tax exemption for gratuity increased from Rs.10 lakhs to 20 lakhs w.e.f. 29.3.2018