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
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
28 August 2026
Audit Manager

K A R M & CO

Mumbai

CMA

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
15 September 2026
Client-site CA associate

Aditya Muley and Co

Mumbai

CA

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details