Is pension income of a retired public sector bank employee taxable/exempt U/s-10(18) of the ITax Act, 1961? Are they considered to be just like central/state govt employees?
Pls guide,
Thank you.
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Taxability of pension income
Replies (6)
Bank employee can't be considered as a Goverenment employee.
Regards,
CA. Deepesh Ruhela
This means that the pension income of the above said person is taxable although he/ she is in the public sector?
Thank you.
Monthly Pension(Un commuted) is always taxable.Whether he is a govt or other employee
The rules given in IT Act,1961 is only for commuted Pension { Bulk amount} received at the time of retirement
Thank you very much. It was a big help.
my pleasure
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