I retired from my service at the age of 58 years complited on 01.10.23
In regard of my retirement my quries are as under.
1.Can I take Rs.50000 standard deduction benefit for the service April 23 to sept.23
2. Is leave encashment received after retirement is exempted & require to show in return .
3. Gratuity amount & Employee P.F.amount received is exempted ,is require to show in return ( exempted in which section )
4.Showing in return means - taking consideration in total income from salary & then same amount taking deduction under relevant section , is it correct ?
Please guide.
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Benefits after retirement
Replies (4)
1. Yes
2. It is exempted upto 25 lakhs u/s 10. But needs to be calculated.
3.exempted u/s 10
4. right.
Better to get a professional do this work.
You will get all details
To show pf & gratuity amt. in income tax return is mandatory or not ( Bcoz it is exempted )
Its mandatory
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