Tax treatment of retiring persons

What is the tax treatment of govt servant retiring in the calendar year for pension received in 3months in the financial year? and tax rates will be separate for this senior citizen?
Replies (3)
Quick Summary
This discussion clarifies the tax treatment for government servants retiring during the calendar year, focusing on pension received within the financial year. It highlights that amounts like DCRG, pension commutation, and terminal leave surrender are tax-exempt. For senior citizens, a basic exemption limit of £300,000 applies, and separate disclosure of pension and salary income is necessary when filing tax returns.

3 Lakh Basic exemption limit for senior citizens. separate disclosure of pension and salary while filling return is required.
DCRG Amount, Commutation of pension Amount and Terminal Surrender Amount of Earned Leave are exempted from IT. For Senior citizens, basic exemption of tax limit is Rs. 3, 00, 000.
Thanks for immediate response

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
26 September 2026
Chartered Accountant

pushpganga ventures

Pune

CA

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article Assistant

Malhotra Rajesh & Associates

New Delhi

B.Com

View Details