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Income tax for retirement benefit

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S. RAVICHANDRAN

Finance Professional

160 Points Posted on 18 July 2018

SIRS

PLEASE LET ME KNOW THE RETIREMENT BENEFIT LIKE LEAVE ENCASHMENT, PENSION COMMUTATION AND GRATUITY ARE EXEMPTED FROM INCOME TAX OR TAXABLE INCOME FOR THE ASST. YEAR 2018-19 (FY 2017-18). RETIRED ON 30.04.2017

KINDLY CLARIFY.

REGARDS

S. RAVICHANDRAN

Replies (1)

Srinivasa Ganesh

Article Assistant

177 Points Posted on 18 July 2018

Dear Ravi Chandra

income tax act provide exemption of amount received at the time of retirement. but entire amount is not exempt there is calculation of exempt for each case like LEAVE ENCASHMENT,PENSION COMMUTATION.,GRATUITY