(9-3-26) Dear comrades, Many serving as well as retired employees of the Food Corporation of India and officials of the management have brought to our notice the issue regarding non-availability of income tax exemption on the enhanced #gratuity amount of ₹25 lakhs. Although the Government of India has revised the gratuity ceiling from ₹20 lakhs to ₹25 lakhs, the income tax exemption under Section 10(10) of the Income Tax Act has not yet been correspondingly revised. As a result, the additional amount of ₹5 lakhs is presently being subjected to income tax deduction.
Taking serious note of the concerns raised by employees and retirees, the FCI Employees Association (CITU) has today submitted a detailed representation to the Chairman, Central Board of Direct Taxes (CBDT) requesting necessary amendment to extend income tax exemption for gratuity up to ₹25 lakhs in line with the revised ceiling.
Simultaneously, we have also requested the Chairman & Managing Director, Food Corporation of India to take up this matter with the CBDT and the concerned authorities of the Government of India so that the intended benefit of enhanced gratuity reaches employees and retirees in full.
The Association will continue to pursue the matter with the concerned authorities until a favorable decision is taken. All employees and retirees are requested to stay assured that we are actively following up the issue in the interest of the entire #FCI fraternity.
Yours fraternally
Gibin Varghese
GS,FCI EA CITU
REG NO:124/1984
