Retirement benefits and commuted pension
This query is : Resolved
30 November 2016
Hello All
I am Sanjay an Accountant. I want your guidance in regards to the retirement benefits received by the Tata Power Distribution Ltd to the employee retired.
My Question is
1. Whether this organization is a Govt or Non Govt sector?
2. Commuted Pension recd is say Rs500000/- what will be the exempt and taxable amount? I think it is 1/2 of received amount.
Kindly do the needful.
Regards
Sanjay
I am Sanjay an Accountant. I want your guidance in regards to the retirement benefits received by the Tata Power Distribution Ltd to the employee retired.
My Question is
1. Whether this organization is a Govt or Non Govt sector?
2. Commuted Pension recd is say Rs500000/- what will be the exempt and taxable amount? I think it is 1/2 of received amount.
Kindly do the needful.
Regards
Sanjay
30 November 2016
1 It is non Govt sector.
2 If gratuity is received 1/3rd of pension commuted is exempted. No gratuity 1/2 of pension commuted is exempted.
2 If gratuity is received 1/3rd of pension commuted is exempted. No gratuity 1/2 of pension commuted is exempted.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- GST ON DAMAGED GOODS
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
