Retired employee wrongly claimed Rs. 20 lakh gratuity exemption — Income Tax Dept imposed penalty, but ITAT ruled in her favour
The Cochin Income Tax Appellate Tribunal’s analysis centres on the taxpayer’s disclosure compliance. (AI image) While filing your income tax return and claiming tax exemptions, it is important to be aware of the limits and applicability. In one such case where the taxpayer was mistaken about the amount of tax exemption available to her for…