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AAFM Exam GLO_CWM_LVL_1 Topic 4 Question 64 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam
Question #: 64
Topic #: 4
[All GLO_CWM_LVL_1 Questions]

What is the exemption criteria U/S 10(10) (ii) of the IT Act, 1961 for any gratuity received by a seasonal employee?

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Suggested Answer: B

by Allene at Jul 28, 2023, 11:44 AM

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Raymon
1 months ago
Ah, the old 'gratuity for seasonal employees' conundrum. I feel like this question is trying to trick us. Option B seems legit though.
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Isadora
1 months ago
Hmm, I think Option B is the right answer. But I'm not too sure, maybe I should double-check the IT Act.
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Van
2 days ago
I agree, it seems like the most accurate choice.
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Belen
13 days ago
I think Option B is correct.
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Kris
2 months ago
Wait, what? Gratuity for a seasonal employee? I thought they didn't get any benefits. This is a tricky one!
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Ernestine
6 days ago
C) Exemption limit is least of three: (i) 15 day's wages based on last drawn salary for every completed year (ii) Rs. 3,50,000/-, (iii) Actual gratuity received
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Tijuana
9 days ago
B) Exemption limit is least of three: (i) 7 day's wages based on last drawn salary for every number of seasons worked, (ii) Rs. 3,00,000/-, (iii) Actual gratuity received
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Judy
15 days ago
A) Exemption limit is least of there: (i) 7 day's wages (calculated as 26 working days in a month) based on last drawn salary for every number of seasons worked, (ii) Rs. 3,50,000/-, (iii) Actual gratuity received
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Sharika
2 months ago
Option B looks correct to me. The exemption limit is the least of 7 days' wages for each season worked, Rs. 3,00,000, and the actual gratuity received.
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Cassi
23 days ago
Yes, option B is the most suitable one considering the exemption limit for gratuity received by a seasonal employee.
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Yvette
1 months ago
I agree with you, option B seems to be the right choice based on the exemption criteria.
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Jani
1 months ago
I think option B is correct. It's the least of 7 days' wages for each season worked, Rs. 3,00,000, and the actual gratuity received.
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Gwenn
2 months ago
Hmm, I'm not sure now. I need to double-check the provisions of the IT Act.
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Sharika
2 months ago
I believe it's actually least of 15 day's wages, Rs. 4,00,000, or actual gratuity received.
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Gwenn
3 months ago
I think the exemption criteria is least of 7 day's wages, Rs. 3,50,000, or actual gratuity received.
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