Exemption on commuted pension in case of psu employee
This query is : Resolved
25 July 2013
one of employee (retired in sep 2012 ) received the commuted pension in nov 2012 Rs. 2.89 lac. Kindly advise the exemption and taxability in FY 2012-2013
25 July 2013
(for psu employee..)
In case of employees of Central & State Govt., Local Authority, Defense Services and corporations established under Central or State Acts, the entire commuted value of pension is exempt.
In case of employees of Central & State Govt., Local Authority, Defense Services and corporations established under Central or State Acts, the entire commuted value of pension is exempt.
25 July 2013
Please refer section 10(10A).
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