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Commuted Pension
A person from Private Bank opted for commuted pension from the fund setup by his employer. ie Total Fund is 30 Lacs. Commuted 1/3 received 10 lacs. 20 lacs is yearly pension. Query is whether the commuted amount 10 lac is taxable or exempt u/s 10(10A)
Replies (1)
Computed pension is taxable while it is received explain the provisions of Income tax act.
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