You would probably like to convey to your readers the notification extending the ceiling to the remaining class of employees under Sec. 10(10)(iii) of the Income-tax Act, 1961.
Notification No. 43/2010/F.No.200/33/2009-ITA-1 dated June 11, 2010, now extends the benefit of higher ceiling for tax exemption at Rs.10 lakh under Sec.10(10)(iii) for those who retire on or after May 24, 2010, so that they are now brought on a par with government servants under Sec. 10(10)(i) and those covered by Payment of Gratuity Act, 1972 under Sec. 10(10)(ii).
