23 February 2012
Dear All. Please help me regarding the under noted tax query on Relief U/s 89. Case:1 X is an retired State Government Employee. After retirement he dint received any Pension. But now he is about to receive basic pension & other allowances w.e.f from 1994-95 to 30th Nov 2011 to the tune of Rs. 11,48,855/- in total.
What will be the tax treatment of the amt. so received? whether it will be treated as commuted pension and as a result tax free ?
Case 2: All the facts same as case 1 only difference is that he received certain amount every month after his retirement and the amount he is to receive now is the revised pension and other reliefs, then what will be the tax treatment?
please also suggest the annexure in Form 10 E where Tax relief calculation is to be done, if relief calculation is necessary and amount to be received now is not exempt?
28 February 2012
Very difficult to give you the calculation for relief u/s 89 as it requires lot of information and calculation and that too many forms to be filled up. So kindly catch hold of a Chartered Accountant who will do for you on payment of his professional fees
CAclubindia
