Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty. CBDT further extends the time for Linking PAN with Aadhaar till 30th June, 2018.

Govt. raises tax-free gratuity ceiling to Rs. 20 Lakhs.

The Government vide notification S.O. 1420 (E) dated 29.03.2018 has increased the limit of amount of gratuity payable to an employee under section 4(3) of the Payment of Gratuity Act, 1972 from the existing limit of Rs. 10 Lakh to Rs. 20 Lakhs

Refer:corporatelaws.taxmann.com

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