HELLO FRIENDS, IAM A STATE GOVT EMPLOYEE IN A GOVT. SCHOOL
AND I HAVE RECEIVED RS 400000 ON COMMUTATION OF PENSION ON RETIREMENT
AND RS 200000 AS LEAVE ENCASHMENT
WHETHER IT IS EXEMPTED
1 Replies
Amir
(Learner)
(4016 Points)
Replied 16 March 2010
Dear Sir,
If school is owned & run by Local Authority (say Municipality) then the amount received will be exempt to the extent of limits prescribed under the act.
However if school is owned & run by SG then the amount received will be exempt irrespective of the amount.
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