Sir, Is GSLI received at the time of retirement to Central Government Employee exempt? If yes, Kindly provide me any applicable section or reference. Thanks in advance.
Sir, Is GSLI received at the time of retirement to Central Government Employee exempt? If yes, Kindly provide me any applicable section or reference. Thanks in advance.
Yes — the Group Savings Linked Insurance amount received by a Central Government employee at the time of retirement is exempt from income tax. It is treated as an insurance payout, The exemption is available under Section 10(10D) of the Income Tax Act, 1961, which covers amounts received under life insurance policies.
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