if any govt employee is recieved Rs 47 lakhs after deducting Rs1.8 lakh income tax on his overall retirement fund afterwards he has kept around 30-32 lakhs in his pension account, whether any additional income tax will be charged to him on his funds kept in pension account ?
pls explain.
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Income tax on retirement funds
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No, not while investing in pension fund. But IT will be levied as per slab rate over the annuity received.
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