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pension

This query is : Resolved 
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(Querist)
22 November 2010
is commuted family pension exempt from tax even in case of non govt. employee
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Prachi Parekh

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

Commuted family pension is non taxable.
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NITIN SHARMA

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NITIN SHARMA (Expert)
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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