TAX LIABILITY FOR A PENSIONER
This query is : Resolved
22 August 2020
SIR please advice me the tax liability for a pensioner who is retired in feb 2020 from a scheduled bank and recieve 16 lakh as gratuity 9 lakh for commuted pension 7 lakh for leave encashment (3 lakh exempted) 9 lakh as salary for fy 2019-20 ,. i am confused about the commuted portion of rs 7 lakh tax liabilty is 1/3 or 1/2 or full amount of commuted pension portion is exempted ? please advice for it.
24 August 2020
1/3 portion of the commuted pension is exempt as per Section 10(10A)(ii)(a).
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Sale of Equity shares for Purchase of Residential Property
- ECO SUPPLY REPORTIONG IN GSTR-1
- Internship/Academic shown in Salary Pay Slip of a Doctor
- Refund of 20%pre-deposit paid for stay application
- Payment to foreign customer
- 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
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
