FAMILY BENEFIT FUND AT THE TIME OF RETIREMENT
This query is : Resolved
04 July 2025
A State Government employee receives Rs.30120 at the time of retirement. Is it taxable or exempt.
04 July 2025
The term "family benefit fund" is not explicitly defined in the IT act. If it refers to a lump-sum payment made to the employee at retirement (similar to gratuity or PF), and is part of the statutory retirement benefits for government employees, it is likely to be fully exempt from tax.
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