tds
This query is : Resolved
08 September 2009
Tax deduction at source.
08 September 2009
thanks , but i have to ask that how much exemption of commuted pension will be granted to JUDGES OF SUPREME & HIGH COURTS?
09 September 2009
Pension [Section 10(10A)]
Terminal benefit received on permanent absorption in public sector is also exempt - The terminal benefit received by a civil servant on his retirement from Government service and absorption in a public sector corporation under rule 37(1)(b) of the Central Civil Services (Pension) Rules, 1972, equal to twice the amount of the commuted value of one-third of his pension in addition to the lump sum amount under rule 37(1A) is exempt from tax under section 10(10A)(i) - C.K. Karunakaran v. Union of India [1981] 127 ITR 136 (Delhi).
Commuted pension - It cannot be said that entire commuted pension is not taxable; it is taxable subject to the provisions of section 10(10A)(iib) - CIT v. K.A. Narayan [2002] 124 Taxman 880/254 ITR 683 (Mad.).
Terminal benefit received on permanent absorption in public sector is also exempt - The terminal benefit received by a civil servant on his retirement from Government service and absorption in a public sector corporation under rule 37(1)(b) of the Central Civil Services (Pension) Rules, 1972, equal to twice the amount of the commuted value of one-third of his pension in addition to the lump sum amount under rule 37(1A) is exempt from tax under section 10(10A)(i) - C.K. Karunakaran v. Union of India [1981] 127 ITR 136 (Delhi).
Commuted pension - It cannot be said that entire commuted pension is not taxable; it is taxable subject to the provisions of section 10(10A)(iib) - CIT v. K.A. Narayan [2002] 124 Taxman 880/254 ITR 683 (Mad.).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Sale of property furniture sale
- Applicability of Tax audit u/s 44AB of income tax act, 1961
- Question about eligibility for tax rebate u/s 87A
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- IGST Credit-Show cause notice issued-confusion
Trending Online Classes
CAclubindia
