Gratuity is a monetary benefit given by the employer to employees. It is governed by Payment of Gratuity Act, 1972. The exemption limit has been increased to Rs 20 lakh from the earlier Rs. 10 lakh.
source https://www.caclubindia.com/articles/payment-of-gratuity-and-exemption-from-tax-45835.asp
source https://www.caclubindia.com/articles/payment-of-gratuity-and-exemption-from-tax-45835.asp
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