Tax computation
This query is : Resolved
24 December 2014
In yr 2013-14,state govt employee has following: salary -257366,pension-109119,gratuity-637214,computed pension-501256,GPF-646194,surrenders leave-416880,savings-100000. any one pls solve this problem
24 December 2014
I presume he retired during the year.
Salary and pension is taxable with minus of savings 100000. Commuted pension GPF and Gratuity fully exempted. Leave encashment up to 3 lacs is exempted.
Salary and pension is taxable with minus of savings 100000. Commuted pension GPF and Gratuity fully exempted. Leave encashment up to 3 lacs is exempted.
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