Lic's superannuation commuted value and tax

1. Upto 1/3rd of the pension can be commuted and be tax free I.e no tax on upto 1/3rd of pension commuted

2. if the pension scheme was a contributory scheme, i.e if you had contributed to the scheme whle you were in service then amount is not taxable.

3. That is not taxable

4.what 2/3rd value?? That is the corpus based on which you will be receiving your pension till your lifetime. If the pension scheme includes family pension, your dependent will get the family pension till his or her lifetime.

1. Upto 1/3rd of the pension can be commuted tax free I.e no tax on upto 1/3rd of pension commuted

2. if the pension scheme was a contributory scheme, i.e if you had contributed to the scheme whle you were in service then amount is not taxable.

3. That is not taxable

4.what 2/3rd value?? That is the corpus based on which you will be receiving your pension till your lifetime. If the pension scheme includes family pension, your dependent will get the family pension till his or her lifetime.