TAX ON RECOVERY OF COMMUTED PENSION

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  1. pravesh sharma

    pravesh sharma New Member

    MY CLIENT RETIRE AS GOVERNMENT EMPLOYEE AND RECEIVED COMMUTED PENSION RS. 15 LAC. AMOUNT OF COMMUTED PENSION IS NOT TAXABLE AS GOVERNMENT EMPLOYEE

    COMMUTED PENSION RECEIVED BY MY CLIENT WILL BE DEDUCT FROM HIS REGULAR PENSION.

    PLEASE HELP WHAT IS TAXABLE PENSION

    1. GROSS PENSION BEFORE RECOVERY OF COMMUTED PENSION
    2.NET PENSION AFTER DEDUCTING COMMUTED PENSION

    DETAIL OF PENSION

    1.GROSS PENSION= 30000
    LESS-COMMUTED PENSION=8000
    NET PENSION RECEIVED 22000
     
  2. V K Khanna

    V K Khanna Active Member

    Only net pension after commutation plus applicable DA, will be taxable in your hands.
     
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