All of the following amounts are excluded from gross income, except: a.Veterans' benefits b.Scholarship grants for tuition c.Gifts d.Tips and gratuities e.Child support payments
Tips and Gratuities are not excluded from gross profit liable to tax. Tips serves as an additional income gotten as a result of you being a worker in an organization. It is an extra salary income.
Gratuity refers to the lump sum of money gotten after retirement. they are both included while calculating gross income.
