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Tax on pension income

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 March 2016 Dear Expert

1. Tax on Pension Income under the head if Govt employee receives pension from Govt it is Fully exempt from Tax right?

2. Pension from BESCOM its Govt or Non Govt

Please let me know above problems

Thanks and regards

04 March 2016 Commuted pension is exempt for govt employee. uncommuted is taxable

BESCOM is govt company.

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 March 2016 Commuted pension and Uncommuted pension diffrence




04 March 2016 The pension which you received every month is uncommuted and if you receive lumpsum amount as pension then it is commuted pension. Suppose your pension is 5000 per month. if you receive 5000 per month then it is uncommuted pension which is taxable. If you opt for lumpsum pension then they will give 2lac or 3 lac whatever amount it is at once that is commuted pension. this is tax free

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 March 2016 Thank u sir your help........



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