Capitalised value of pension for excempt from tax
This query is : Resolved
22 May 2011
Good evening Sir, i have one doubt that is my uncle retire in indian army, he is get retirement benefit for Capitalised value of pension Rs.300000 and Graduity Rs.128702. he is claim for excempt from tax.
23 May 2011
Whether retirement gratuity/death gratuity, commuted value of pension is taxable ?
Retirement/death gratuity and the lump sum amount received on account of commutation of pension is not taxable under Income Tax Act.
http://pensionersportal.gov.in/FAQ-pension.asp#a15
Retirement/death gratuity and the lump sum amount received on account of commutation of pension is not taxable under Income Tax Act.
http://pensionersportal.gov.in/FAQ-pension.asp#a15
23 May 2011
Pension & Gratuity received at the time of Retirement/Death in case of Govt Employees is 100% exempt from Income Tax.
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