25 July 2013
one of employee (retired in sep 2012 ) received the commuted pension in nov 2012 Rs. 2.89 lac. Kindly advise the exemption and taxability in FY 2012-2013
25 July 2013
(for psu employee..) In case of employees of Central & State Govt., Local Authority, Defense Services and corporations established under Central or State Acts, the entire commuted value of pension is exempt.
CAclubindia
