Dear Members
For a Tamilnadu State Goverment Employee , who retired in Jan 2013 . She has received an amount of 10 lakhs as commutation of pension .
the Question here is some people say it is taxable .
Some say it is not taxable as per Section 10(10 A) of Income Tax act .
Kindly Clarify .
Commuted Pension is not taxable
And how about the pension they have received in arrears . (ie) she got retired in jan 2013 and then her pension processing took almost 5 -6 months . And the pension for period from Feb 2013 to August 2013 was credited in August 2013 as pension arrear . Is that taxable ??
yes .. it is totally exempt...
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