Particulars Exemption availed Salary meaning Years of Govt Avg monthly Others (least of the following) service limits salary Leave 1.avg monthly Basic+da (terms of Ignore 3 lakhs 10 months Maximum leave entitlement entitled in months fraction immediately allowed 1 month 10(10AA) 2.10*Avg monthly salary on percentage preceding the for tax 3.3lakhs retirement 4.actually received (may 17,take 17 days) Gratuity 1.15 days salary of last Salary+da Period 10 Salary of last Seasonal-7days 2covered month*length of service above 6 lakhs work not 15. under 2.10 lakhs 3.gratuity recived as of last 3 10(10)(ii) full months wages Gratuity not 1.½ of 10 months Avg Basic+da (terms of Ignore 10 10 covered salary*completed year of fraction before the under G-act services on percentage month of 10(10)(iii) 2.10 lakhs retirement 3.gratuity recived Pension Commuted- Family pension 10 (10A) Person covered after death gratuity act-1/3 rd received taxable-1/3 or amt. 15000 lower Not covered under exempted Nps scheme 10% of employer Salary +da contribution 1.15 days Avg Above,6 5 lakhs pay*completed year of months, services service take full 2.5 lakh 3.amount recived Vrs scheme Maximum 5 lakhs 10(10 c) HRA 1.50% or 40% of salary (terms of 10 (13 A) in(mbcd) Rule 2A 2.hra received on percentage 3.rent paid excess of 10% of salary 5000 Basic Non-govt Or 20% of salary employees –on allowances exemption Retirement or lump sum benefits….exemptions calculations
Particulars Exemption availed (least of the following) Salary meaning Years of service Govt limits Avg monthly salary Others Leave entitlement 10(10AA) 1.avg monthly entitled in months 2.10*Avg monthly salary 3.3lakhs 4.actually received Basic+da (terms of on percentage Ignore fraction 3 lakhs 10 months immediately preceding the retirement (may 17,take 17 days) Maximum leave allowed 1 month for tax Gratuity 2covered under 10(10)(ii) 1.15 days salary of last month*length of service 2.10 lakhs 3.gratuity recived Salary+da Period above 6 as full 10 lakhs Salary of last Seasonal-7days work not 15. of last 3 months wages Gratuity not covered under G-act 10(10)(iii) 1.½ of 10 months Avg salary*completed year of services 2.10 lakhs 3.gratuity recived Basic+da (terms of on percentage Ignore fraction 10 10 the month of retirement Pension 10 (10A) Commuted- Person covered gratuity act-1/3 rd received amt. Not covered under Family pension after death taxable-1/3 or 15000 lower exempted Nps scheme 10% of employer contribution Salary +da services 1.15 days Avg pay*completed year of service 2.5 lakh 3.amount recived Above,6 months, take full 5 lakhs Vrs scheme 10(10 c) Maximum 5 lakhs HRA 10 (13 A) Rule 2A 1.50% or 40% of salary in(mbcd) 2.hra received 3.rent paid excess of 10% of salary (terms of on percentage 5000 Or 20% of salary Basic Non-govt employees –on exemption Retirement or lump sum benefits….exemptions calculations allowances before
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