pension

This query is : Resolved 

22 November 2010
is commuted family pension exempt from tax even in case of non govt. employee

23 November 2010 Commuted pension is exempt in the case of non govt employees, upto certain prescribed limits.

Commuted family pension is non taxable.

23 November 2010 Commuted pention is exempt in case of non govt. employees (i) If employee receives gratuity then the commuted value of 1/3rd of the pension which is normaly entitled to recive is exempt from tax .
(ii) where the employee does not receive gratuity then 1/2 of commuted value of pention is exempt.


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