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FAMILY BENEFIT FUND AT THE TIME OF RETIREMENT

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P.Madhivadhanan

P.Madhivadhanan (Querist)
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04 July 2025 A State Government employee receives Rs.30120 at the time of retirement. Is it taxable or exempt.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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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.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 September 2025 Good luck...

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