My friend ( a central govt. employee) has received a total of Rs. 80 lakhs which includes GPF, Gratuity, Commutation money,
Leave encashment, CGGrop Insurance. etc. Since the amount of money is more than Rs.50 lakhs is he required to
declare this amount in schedule AL of ITR 2 ? Is this money teated as income for the purpose of Income Tax Act ?
Please advise.
CAclubindia
