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Relief u/s 89

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(Querist)
08 May 2015 FOR FY 13 14 AREAR PENSION RECEIVED RS 283107 GRATUITY RS 600000 IN FY 14 15.TOTAL PENSION RECEIVED FOR THIS FY RS. 320000.INTEREST EARNED RS.56000.INVESTMENT RS 53000.WHAT IS THE TAX IMPLICATION FOR THE AY 15 16
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Soumitra Basu

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Soumitra Basu (Expert)
21 June 2015 ARREAR PENSION CAN BE BIFURCATED UNDER SECTION 89 OF THE ACT.
GRATUITY UPTO CETAIN LEVEL IS TAX FREE.
INTEREST IS TAXABLE.

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