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Pension - [Sec. 10(10A)]

Income Tax - Salary Income - 04 - PENSION [Sec. 10(10A)] Pension can be divided into two types: Uncommuted Pension Commuted Pension Uncommuted Pension -It is taxable as salary under section 15 in the hands of a Government employee as well as a non - .....

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commutation of pension received by any other employee- In case of any other employee, if the employee receives gratuity, the commuted value of one third (1/3) of the pension is exempt, otherwise, the commuted value of ½ of the pension is exem .....

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of section 89 read with rule 21A . National Pension scheme In case of an employee joining Central Government on or after January 1, 2004 or any other employer- These provision are given below- 1. Contribution by the Central Government or any other em .....

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3.Employee 's contribution to NPS (to the extent of 10 percent of the salary of the employee or ₹ 100,0001,whichever is less) is deductible under section 80CCD(1)2. 4.When pension is received out of the aforesaid amount , it will be charge .....

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s basic salary and dearness allowance ( if the term of employment so provide ) but excludes all other allowance and perquisites .It also includes commission if commission is payable at a fixed percentage of turnover achieved by an employee. ......... .....

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