Pension are taxble
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 July 2012
PLEASE
ANY TEACHER ARE RETIRE FROM SCHOOL AND HIS PENSION TILL DATE START TO THAT PENSION BE TAXABLE OR NOT?
ANY TEACHER ARE RETIRE FROM SCHOOL AND HIS PENSION TILL DATE START TO THAT PENSION BE TAXABLE OR NOT?
14 July 2012
Yes, Pension is taxable.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
14 July 2012
Tax treatment( if Govt. School Retired Employee)
Uncommuted Pension :- Taxable
Commuted Pension:- ( Fully Exempt)
Tax Treatment( If non Govt. School Retired Employee)
Uncommuted Pension :- Taxable
Commuted Pension:- ( Taxable)
If Gratuity is received
One-third of the pension, which he is normally entitled to receive, is exempt.
If Gratuity is not received
One-half of the pension which he is normally entitled to receive is exempt.
Uncommuted Pension :- Taxable
Commuted Pension:- ( Fully Exempt)
Tax Treatment( If non Govt. School Retired Employee)
Uncommuted Pension :- Taxable
Commuted Pension:- ( Taxable)
If Gratuity is received
One-third of the pension, which he is normally entitled to receive, is exempt.
If Gratuity is not received
One-half of the pension which he is normally entitled to receive is exempt.
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